Category: Economics

ECOWAS: Aims and Objectives

ecowas-logo

The Economic Community Of West African States, ECOWAS is a sub-regional organization formed by West African Countries mainly to promote cooperation and development in all economic fields and of contributing to the progress and development of the African continent. On the historic date of 28th May, 1975, Heads of States and Governments of 15 independent […]

Forms of Tax: Advantages and Disadvantages

taxation

There are two major forms of tax. Direct and Indirect taxes. Direct tax is collected directly from individuals and profits of companies. The profit of direct tax is borne by the payers. Types of Direct Tax 1. Income Tax This is a compulsory contribution imposed on the personal income of individuals based on their gross […]

Budget: Types, Revenue and Expenditure

budget

A budget may be defined as a financial statement of the total estimated revenue and the proposed expenditure of a government in a given period, usually a year.  Types of Budget  1. Balanced Budget  This is when the total estimated revenue is equal to the proposed expenditure. This means that nothing will be left as […]

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