Kenya is heavily dependent on donor aid. As a middle income country there is concern of decrease in foreign aid and thus need for Domestic Resource Mobilization (DRM). My target audience are the citizens of Kenya as well policy makers and the donor community.
DRM is a reliable and sustainable source of development finance. Raising more revenue from internal sources helps countries devote needed resources to reduce poverty and hunger, bridge infrastructure gaps and provide public services. DRM fosters the social contract between people and government, facilitates a virtuous cycle of transparency, accountability, efficiency and strengthens democratic engagement and institutions.
Taxation for Domestic Resource Mobilization (DRM) in KenyaSally A.
Kenya is heavily dependent on donor aid. As a middle income country there is concern of decrease in foreign aid and thus need for Domestic Resource Mobilization (DRM). My target audience are the citizens of Kenya as well policy makers and the donor community.
DRM is a reliable and sustainable source of development finance. Raising more revenue from internal sources helps countries devote needed resources to reduce poverty and hunger, bridge infrastructure gaps and provide public services. DRM fosters the social contract between people and government, facilitates a virtuous cycle of transparency, accountability, efficiency and strengthens democratic engagement and institutions.
Mobilising domestic resources for sustainable development in cameroon is the ...SHILLIE PETER (DBA Fellow)
Considering that financing development from domestic resources can be more cost effective to a nation, there is urgent need to strengthen and mobilize the domestic resources of the Country. A more guaranteed source of domestic resources for financing development is through taxation.
Unlocking Public Resources for Development: Meeting the SDGsNasiaGavrielidou
The presentation reflects the significant role of the public sector in financing for the new Sustainable Development Goals (SDGs). There is an introduction to the 17 goals and the proposed ways to generate the trillions required for this procedure, one of which is the engagement of the public sector. Through the idea of domestic resource mobilization (DRM) for the generation of resources, countries should focus on achieving high tax-GDP ratios and the creation of fiscal space. This will lead to government revenue and opportunities for more effective public spending for meeting the SDG goals.
Emerging Market Study – Top 3 for business in South America. This presentation gives a brief information about the top 3 emerging markets in South America.
Taxation for Domestic Resource Mobilization (DRM) in KenyaSally A.
Kenya is heavily dependent on donor aid. As a middle income country there is concern of decrease in foreign aid and thus need for Domestic Resource Mobilization (DRM). My target audience are the citizens of Kenya as well policy makers and the donor community.
DRM is a reliable and sustainable source of development finance. Raising more revenue from internal sources helps countries devote needed resources to reduce poverty and hunger, bridge infrastructure gaps and provide public services. DRM fosters the social contract between people and government, facilitates a virtuous cycle of transparency, accountability, efficiency and strengthens democratic engagement and institutions.
Mobilising domestic resources for sustainable development in cameroon is the ...SHILLIE PETER (DBA Fellow)
Considering that financing development from domestic resources can be more cost effective to a nation, there is urgent need to strengthen and mobilize the domestic resources of the Country. A more guaranteed source of domestic resources for financing development is through taxation.
Unlocking Public Resources for Development: Meeting the SDGsNasiaGavrielidou
The presentation reflects the significant role of the public sector in financing for the new Sustainable Development Goals (SDGs). There is an introduction to the 17 goals and the proposed ways to generate the trillions required for this procedure, one of which is the engagement of the public sector. Through the idea of domestic resource mobilization (DRM) for the generation of resources, countries should focus on achieving high tax-GDP ratios and the creation of fiscal space. This will lead to government revenue and opportunities for more effective public spending for meeting the SDG goals.
Emerging Market Study – Top 3 for business in South America. This presentation gives a brief information about the top 3 emerging markets in South America.
Barriers to Economic Growth and Developmenttutor2u
This is a revision presentation covering examples of barriers ti economic growth and development in emerging and developing countries. In their revision students should consider factors such as:
Poor infrastructure
Human capital inadequacies
Primary product dependency
Declining terms of trade
Savings gap; inadequate capital accumulation
Foreign currency gap and capital flight
Corruption, poor governance, impact of civil war
Population issues
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Classic project management meets panopticism - How to monitor projects and (t...Philip Jæger
This paper will not focus on why you should monitor, but acknowledge the premise that it’s needed, and therefore instead focus on expanding its aspects. Panopticism has in relation to monitoring many promising comforts of fx. being economical and bringing error-prevention, but in the shadow of these comforts lurks an asymmetrical power-relationship which may not be suited for today's workspace.
Barriers to Economic Growth and Developmenttutor2u
This is a revision presentation covering examples of barriers ti economic growth and development in emerging and developing countries. In their revision students should consider factors such as:
Poor infrastructure
Human capital inadequacies
Primary product dependency
Declining terms of trade
Savings gap; inadequate capital accumulation
Foreign currency gap and capital flight
Corruption, poor governance, impact of civil war
Population issues
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Classic project management meets panopticism - How to monitor projects and (t...Philip Jæger
This paper will not focus on why you should monitor, but acknowledge the premise that it’s needed, and therefore instead focus on expanding its aspects. Panopticism has in relation to monitoring many promising comforts of fx. being economical and bringing error-prevention, but in the shadow of these comforts lurks an asymmetrical power-relationship which may not be suited for today's workspace.
Taxation: Effective tax administration a panacea for poverty eradication in Nigeria
The problem: The Rio+20 in 2012 conference argued that “close to 40 percent of the population of the developing world lived in extreme poverty” this is a great source of concern particularly in Nigeria with enormous natural resources egg crude oil. However, according the national bureau of statistics report in 2010 that over 64 percent of the population leaves below the poverty line of $1.27 per day. The problem of poverty is exacerbated by the incidence of high illicit financial flows (IFF) where the public funds are siphoned by corrupt government officials mostly through contracts.
Taxation: Effective tax administration a panacea for poverty eradication in Nigeria
The problem: The Rio+20 in 2012 conference argued that “close to 40 percent of the population of the developing world lived in extreme poverty” this is a great source of concern particularly in Nigeria with enormous natural resources e.g a crude oil. However, according the national bureau of statistics report in 2010 that over 64 percent of the population leaves below the poverty line of $1.27 per day. The problem of poverty is exacerbated by the incidence of high illicit financial flows (IFF) where the public funds are siphoned by corrupt government officials mostly through contracts.
Mobilising domestic resources for sustainable development in cameroon is the ...SHILLIE PETER (DBA Fellow)
Considering that financing development from domestic resources can be more cost effective to a nation, there is urgent need to strengthen and mobilize the domestic resources of the Country. A more guaranteed source of domestic resources for financing development is through taxation.
Final project unlocking investment & finance in emerging markets and develo...Damian Attah
Nigeria's GDP has been growing in a slower pace compared to the population growth rate of 2.6%. The year-on-year budget deficit and the slow growth in government revenue has continued to constrain investment in critical social and physical infrastructure that will be needed to be on the path of economic growth. The ineffective fiscal framework and erosion of social trust in government spending has resulted to a tax to GDP ratio of less than 1% compared to the minimum requirement of 15% recommended for an emerging nation like Nigeria. The country's current debt profile of over $73billion and the allocation of 23% of the annual budget to debt servicing makes additional loans quite unsustainable. Funding the critical sectors that will create a transformative growth will require the crowding in of required financing from both the public and private sources and the unlocking of investment opportunities that will attract FDI, ODA and OOF finance. Posing as a government official that is exploring the option of attracting public, private and multilateral funding, the slides seeks to address the following:
(a) What are the estimated financing needs for the country’s development?
(b) Which sources of finance are available to you international and domestically, from both public and private sources?
(c) How will the country access these?
(d) How will you work with multilateral development banks to address barriers to accessing these sources of finance?
The Kenya Budget Statement for the Fiscal Year 2016/2017
was presented to Rev. Mutava Musyimi, the Chairman of the
Budget and Appropriation Committee of the National Assembly,
by Mr. Henry K. Rotich, Cabinet Secretary for Finance on
8th June 2016 under the theme “Consolidating Gains for a
prosperous Kenya.”
I have been involved in the East African Investment Banking Industry and Capital Markets since 2009.
Firm believer in the growth profile of the last frontier markets in Sub-Saharan Africa, I have founded Nelion Partners Ltd, a Seychelles incorporated investment holding company providing its investors with a unique blended exposure to high potential African Assets.
Created in March 2015, Nelion Partners is an Investment Platform, domiciled in Seychelles, providing more than 65 local and international investors with an exposure to various assets classes across Africa:
(i) Listed Equities on African major stock exchange
(ii) Real Estate properties with a focus on site-and-service developments
(iii) Private Equity investments in early stage and high growth business models (focus on Education, Financial Service, Agribusiness, Retail, Healthcare and FMCG)
Taxation: The Instrument of Economic Growth in NigeriaAJHSSR Journal
ABSTRACT: The provision of basic infrastructures are very important to the economic development of a
nation. The extent to which the government is able to provide these amenities is determined by the number of
resources at the government's disposal. The inability of the government to provide these basic amenities have
led to the winding up and relocation of many multinational companies operating in Nigeria to other African
countries. As a result, this study investigated the effects of corporate income tax (CIT) and customs and excise
duty (CED) on economic growth. The study used a descriptive research design, and data from 1971 to 2020
were gathered from the Central Bank of Nigeria (CBN) statistical bulletin and Federal Inland Revenue Service
(FIRS) publicationThe study concluded that the provision of basic infrastructures will boost the economy and
will drive individual taxpayers towards a positive response to tax payments. This will increase the level of tax
compliance and result in additional revenue for the government.This study recommended that the government
should make developmental projects their top agenda item as the availability of infrastructural facilities is a
necessary condition for investment that will grow the economy.
KEYWORDS: Company Income Tax, Custom and Excise Duty, Economic Growth, Gross Domestic Product,
Taxation
Similar to Taxation for Domestic Resource Mobilization (DRM in Kenya (20)
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
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when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
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how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Taxation for Domestic Resource Mobilization (DRM in Kenya
1. TAXATION FOR
DOMESTIC RESOURCE
MOBILIZATION
(DRM)
IN KENYA
In Partial Fulfillment for the Financing for Development Course
(November 17th to December 14th, 2015)
12/14/2015 #Fin4DevMOOC
Submitted by Salome S. Andere
2. ABSTRACT
Kenya is a country of 44 million people and one most vibrant economy in Sub-Saharan
Africa. According to the World Bank Estimates of Gross National Income per capita
(GNI), Kenya continued to show improved performance. Her economic growth in
recent years averages 6% per annum, and in 2014 Kenya had crossed from a ‘low
income country’ (LIC) to a ‘middle income country’ (MLC) joining those with annual
incomes of $1,046 to $4,125. Despite this success, there is need to put more efforts to
ensure that available opportunities to raise resources are adequate and sustainable.
Despite this there is low compliance levels and tax evasion creates a narrow tax base
and high enforcement costs.
The private sector has an important role to play, but this paper focuses on Kenya’s
public sector and its role in generating taxation and public revenue in the country for
effective development. have chosen Kenya for this project firstly because she is heavily
dependent on donor aid and ODA. Secondly, having moved to a middle income country
(MIC) there is concern of decrease in foreign aid.
At the end of this paper, it proposes policy options that could be exploited to ensure
Kenya adequately exploits the domestic revenue potential. Thus enhanced DRM can
help to reduce the external resources (in the form of grants and loans) required to
achieve the Sustainable Development Goals (SDGs)
12/14/2015
#Fin4DevMOOC
3. DEFINITION OF
DOMESTIC RESOURCE MOBILIZATION
According to North-South Institute (2010), DRM refers to savings and investments
generated by both the public sector (primarily through taxation) and the private sector
(as a channel for private savings by households and domestic firms.) There are three
main revenue sources for the government; tax revenue, non-tax revenue and
borrowings (Singh, 2004).
Domestic Resource Mobilization (DRM), whose instruments are public revenues and
public spending, has gained prominence internationally especially after the
international economic crises in 2009 when external resource inflows, Official
Development Assistance (ODA), Foreign Domestic Investments (FDI), Diaspora
remittances and domestic revenue generation in developing countries faced big
threats. Sub-Saharan African countries in particular will need to mobilize resources to
cover gaps in infrastructure, health and education. This created the need for
predictable public revenue generation.
#Fin4Dev
Source: Self, 2015
4. IMPORTANCE OF DOMESTIC RESOURCE
MOBILIZATION (DRM)
DRM at a significant level is essential to solidify ownership over
development strategy and to strengthen the bonds of accountability between
governments and their citizens. In effect, DRM provides policy space to
developing countries which is often constrained under the terms and
conditions of external resource providers.
Foreign aid comes with conditionality or policy strings attached, not to
mention procurement restrictions that accompany tied aid.
Foreign aid also tends to be pro-cyclical and volatile. Foreign direct
investment (FDI) typically flows into sectors and projects dictated by the
commercial interests of the foreign investors - for example, natural resource
extraction.
Moreover, developing governments that are heavily dependent on foreign
aid, or on sharing the profits of foreign investors, have less incentive to raise
taxes and less reason to pay attention to the demands of taxpaying citizens.
12/14/2015 #Fin4DevMOOC
5. CHALLENGES FACING
DOMESTIC RESOURCE MOBILIZTION IN KENYA
Taxing the Informal Sector
The informal sector is profitable but tax evasion by the sector
remains particularly high. Populist politics tend to shield some of
these potential taxpayers from paying taxes.
Tax Administration Capacity and Cultivating Tax Morale
Administrative capacity constraints are generally known to be major
obstacles to improving tax policy in Africa. The administrative
constraints are such that they limit policy options. Many governments
often cite the lack of skilled staff as a major impediment to tax
collection. Furthermore, despite great progress in adopting
information and communication technology, as has been done by the
Kenya Revenue Authority (KRA) through its Itax system to increase
revenue collection, more can still be done in Kenya. It is therefore
important that for governments to strengthen national and local tax
administration and policies.
12/14/2015 #Fin4DevMOOC
6. CONT…
Corruption
The issue existence of corruption has over the years led to great loss of the
country’s revenue and other useful resources and has also resulted in citizens
being denied some of their basic rights. Transparency International rank Kenya
145 out of 174 countries in its 2014 Corruption Perception Index. Bureaucracy and
corruption are identified as barriers against entering the formal sector. In
Complex tax legislation, difficult to understand even by the educated tax payer
and discretion on the part of tax officials which leads to corruption. Kenya’s
informal entrepreneurs state that complex registration procedures impede their
entering the formal sector.
Illicit Flow of Funds
A report released by Mr. Thabo Mbeki's team earlier this year (2015) shows that
Africa loses in excess of US$50 to US$60 billion every year through illicit
outflows. Kenya on its part has lost an estimated Sh160 billion up to the year
2011. Mr Mbeki, who heads the High-Level Panel on Illicit Financial Flows from
Africa, said African countries also need closer collaborators and coordination in
efforts to deal with the problem. Poor governance, weak regulatory structures
and involvement in corruption by top government officials remains a challenge in
the fight against the illicit practice.
12/14/2015
#Fin4DevMOOC
7. CONT…
Rationalizing Tax Exemptions.
Such incentives create distortions and result in the loss of tax
revenues.
Regional Common Markets
Kenya is a member of two regional blocks, the East African
Community (EAC) and Common Market for Eastern and Southern
Africa (COMESA), which have not harmonized their tax regimes. The
main problem is the comparability and ability of revenue authorities
in member countries, and their capacity to enforce compliance. There
is also the issue of exemptions granted under the EAC Customs
Management Act to promote the development of infant industries,
which are not effectively monitored.
12/14/2015 #Fin4DevMOOC
8. CONCLUSION
Kenya has built its experience from the implementation of the Millennium
Development Goals (MDGs) thus should pay special attention to the fundamental
Sustainable Development Goals issues that seek to address and transform issues
concerning domestic resource mobilization that cut across the social, economic
and environmental dimension of development that were left out of the MDG
Framework.
His Excellency Honorable Uhuru Kenyatta, President of the Republic of Kenya
during the General Debate of the 70th Session of the United Nations (UN) General
Assembly on 28th September, 2015 emphasized that domestic resource
mobilization remains key in raising required resources for developing states.
DRM should be channeled to productive sectors so as to complement current
investments and attract new investments.
Policies and institutions (both public and private investment) should be
strengthened.
Placing DRM and public financial management at the centre in an effort around
good governance. This is because good governance remains one of the most
important challenges facing developing countries as the citizens’ demand
increased accountability.
Where the government cannot reach the civil society through grass root levels
should create awareness about DRM to the citizens.
#Fin4DevMOOC
9. REFERENCES
Abay, T.W. (2010), Domestic Resource Mobilization in Sub-Saharan Africa: the Case of
Ethiopia, North-South Institute, Ontario, Canada.
African Development Bank Group, Domestic Resource Mobilization for Poverty
Reduction in East Africa: Kenya Case Study.
Daily Nation Newspaper Kenya: African countries losing billions through illicit financial
flows: Mbeki. September 15, 2015.
Development Initiatives to End Absolute Poverty by 2030. www.devinit.org.
Google Search Engine: www.google.com
Singh. S.K., (2004), “Public Finance in Theory and Practice”, S. Chand and Company Ltd,
India, pg.90 and 255.
Tax Justice Africa, Raising Domestic Resources to Finance Development in Africa
Transparency International, Corruption Perception Index, 2014.
2014 Human Development Report:
http://www.undp.org/content/undp/en/home/presscenter/events/2014/july/HDR2014
.html
12/14/2015
#Fin4DevMOOC