High Quality Cash Management As A Tool Of Removing Barriers To Inclusive Economic Growth

Inclusive growth remains the exception rather than the rule all over the world. Local communities may have better opportunities to address economic problems if both employers and workers explore the linkage between economic inclusion and growth. Big corporations, small and medium enterprises (SMEs), governments and civic institutions should collaborate together with the aim of removing barriers that are hindering inclusive growth. Elaborated inclusive growth strategies should be tailored to regions or communities. Sustainable profitable businesses operating in the areas of innovative industries and tradable sectors enable workers to get well-paid jobs and better prospects. Economic growth generates the wealth and especially tax revenues, essential for supporting public goods financed by the municipal governments. These strategies are enabled by capital resources and support or expand profitable investments in regions. Municipal governments finance their activities from the state or municipal budgets, once filled with tax revenues. How tax revenues will be beneficial to the communities depends on the efficiency of collecting taxes from prosperous businesses. Companies must be disciplined, forced by legislation, and technologically progress to report earnings and pay taxes. The main objective of the study is to investigate challenges posed by the cash economy that can facilitate tax evasions and tax crime. Cash is fungible and untraceable requiring high-quality cash management in public finances. The critical analysis and comparison will be used to evaluate legislation measurement, government policies or efficient technology solutions that were implemented to improve cash management in developed and developing countries worldwide.