Bureau of the Fiscal Service financial management and shared services. The Fiscal Service replaced the Bureau of the Public Debt and the Financial Management Service effective October 7, 2012 per directive of Treasury Secretary Timothy Geithner. The Bureau manages the government's accounting, central payment systems, and public debt. Among its duties is to collect any voluntary donations made to the government for reduction of the public debt. Bureau of the Fiscal Service The Bureau of the Fiscal Service (Fiscal Service) is a bureau of the U.S. Department of the Treasury, an agency of the United States federal government. The mission of the Fiscal Service is
Fiscal capacity cannot improve fiscal capacity by simply raising taxes if it does not have a political, legal and fiscal history that has supported such state-power. In comparison to Besley and Persson's individual level study, Gordon and Li (2009) focus on the role of businesses and the financial sector in developed versus developing countries. They model businesses' participation in the financial sector—where Gordon and Li specifically refer to participation in the financial sector as using banks—as participation in the formal sector; they assume that tax authorities can monitor bank records, so that mass participation in the financial sector lends the state information