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Taxation is one of government income source. What are major canons of taxation?

      

Taxation is one of government income source. What are major canons of taxation?

  

Answers


Veronica
CANONS OF TAXATION
1. Should ensure equality - the amount of tax paid should be in proportion to the abilities of the taxpayers.

2. should be convenient - that is, taxpayer's friendly and make it easy for them.

3. Should be economical - cost of collecting tax should be minimum as possible so as to fund all government expenses appropriately.

4. should be productive - that is, there should be large revenues collected as a result of taxing.

5 should be flexible - it must be in a position to increase and decrease depending on changes in demand for revenue.

6. Should be certain - the tax payers should be made aware of the purpose of paying tax.
Ronieh answered the question on August 9, 2018 at 15:03


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