ABSTRACT
The art of taxation consists in so plucking the goose as to obtain the largest amount
of feathers with the least amount of hissing.
(Jean Baptiste Colbert cited by Brooks, 2010)
The principal sources of income for governments, non-profit organizations and private
sector, profit-seeking organizations is one of the distinguishing features between them
(Moore, 2000: 185). For governments the principal source of income is taxation,
something that is only available to government. Non-profits are distinguished by the
income they receive from charitable donations. Whilst governments and non-profits
receive income from the fees charged for some products and services this source of
income is much more relevant to profit-seeking organizations. Nevertheless, for all
organizations there needs to be sufficient income (from whichever sources) to finance
the organization’s expenditure if it is not to become insolvent.
