1.Simplicity-the tax system used should be simple.that is it should u be understood by both the taxpayer and the tax collector
2.Flexibility-the tax system should have the ability of being manipulated to meet the existing economic situation.
That is when salaries increase taxes also increase vice versa.
3.Should be economical-the cost of collection should not exceed the amount being collected
4.Sanction-the tax system should be approved by relevant authority such as parliament
5.Equitable-the tax levied on rich people should be high than that being levied on the poor people to reduce income disparity.
Real Educator answered the question on April 23, 2018 at 09:14
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