Natural Taxation

The purpose of this study is to concentrate on the use of taxation measures by the public sector to extract revenues from resources industries, special consideration is given to taxes specific to the resource sector.

Excerpt from Natural Taxation: An Inquiry Into the Practicability, Justice and Effects of a Scientific and Natural Method of Taxation § I. Is there any natural taxation? Is there any such thing as a natural or strictly scientific method of taxation? Almost all self-styled practical men scornfully deny that there is; and in this denial, for once, the professors of economic science, whom they contemn, seem to agree with them. It is more than doubtful whether any such writer upon the subject recognizes any natural form of taxation; while Professor Perry distinctly asserts: "There can be no science of taxation"; and: "Nature has given no whisper, that we can hear, about any taxes." Professor Sumner also says: "There are no natural laws of taxation." Of course, all good protectionists cordially indorse these opinions. Nevertheless, is this consensus of opinion well founded? Is it true that Nature has nothing to say on this subject? Is it true that there is and can be no science of taxation? If it is, then Nature can have nothing to say about government, and all talk of the science of government is folly. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Public policies in taxation and revenue management are key to ensuring natural resource wealth results in economic development. Tax policy and systems should ensure that whenever natural resources are extracted, the host state receives a fair share of revenue. Revenue management policies are required to ensure that government revenues from natural resources are wisely used to finance sustainable economic development. This Economic Paper analyses key issues in natural resource taxation and revenue management and recommends policies that can improve countries’ economic performance. The discussion draws on economic theory, empirical evidence and the work of the Commonwealth Secretariat.

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