Fiscal incidence Fiscal incidence Fiscal incidence is a concept within public finance, a sub-discipline within economics, that refers to the combined overall economic impact of both government taxation and expenditures on the real economic income of individuals. While taxation reduces the economic well-being of individuals, government expenditures raise their economic well-being. Fiscal incidence is the term for the overall impact of government taxing and spending considered together. In theory, governments withdraw resources from society in the form of taxation, and contribute resources back into society in the form of expenditures. However, the burdens of taxation are not borne equally by individuals, and
Fiscal transparency or of elements of budget transparency, are available from: In addition to the revision of the IMF Fiscal Transparency Code, the global financial crisis also prompted more widespread reflection on the effectiveness of the existing international arrangements to promote fiscal transparency and accountability. One outcome of this was the creation of the Global Initiative for Fiscal Transparency (GIFT) in 2011. GIFT is a multi-stakeholder action network that aims to “Advance and institutionalize global norms and significant, continuous improvements on fiscal transparency, engagement, and accountability in countries around the world.” GIFT’s Lead Stewards are the World Bank, the IMF, the International