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?

  

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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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