By Onyekachi Umah, Esq., LL.M, ACIArb(UK)
Improving internally generated revenue may include; increasing tax rates, reducing tax evasion and increasing the lawful taxation of more items/services. Since government must provide certain services but government does not have adequate business to generate needed fund, then government must generate funds through taxes and levies. However, to avoid abuse among other things, laws are made to enable government to lawfully impose, demand and collect taxes, levies and penalties.
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