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Earmarked taxcontemporary issues in Public Sector Accounting and Policy
Finance & Accounting
Pages 16 (4016 words)
Earmarked Tax: Contemporary Issues in Public Sector Accounting and Policy Table of Contents Table of Contents 2 Introduction 3 Part 1: Literature Review 4 Part 2: Evaluation 9 Part 3: Critical Comment on Developing Of Health and Social Care Sector 13 Recommendations 16 Conclusion 17 17 References 18 Bibliography 22 23 Introduction The term ‘earmarking’ refers to any fund that has been kept in reserve by authorities for a definite purpose.
For instance, earmarking of taxes for protecting the environment is commonly applied in the US, Europe and other western countries. Furthermore, taxes that are collected from fuel consumption and motor vehicles are allocated for the construction of national and state roadways (Anesi, 2003). Furthermore, concerned with the increasing health related issues, World Health Organisation (WHO) has further increased the global tax rate of cigarettes and other tobacco related products to 10% which will ensure an additional revenue generation of 7%. However, the revenue percentage generated can increase in higher income countries compared to lower income countries. However, the members of WHO stated that despite the steep increase in the taxes charged for cigarettes and tobacco products, people are not discouraged in limiting their addiction levels irrespective of the income status of the country (Prakongsai & et. al., 2008). Part 1: Literature Review According to Brett & Keen (2000), earmarking has the possibility of affecting the electoral outcome due to the decisions of the policymakers and representative voters. ...
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