Get premium membership and access questions with answers, video lessons as well as revision papers.
(i) Certain: Amount to be paid, time and method should be clear.
(ii) Elasticity: Ability to increase or lower tax as need arise.
(iii) Equity: Equal sacrifice towards payment.
Those with high incomes pay higher taxes and vice versa.
(iv) Economical: Cost of collection should be minimal.
The government should collect more and spend less as administrative costs.
(v) Simplicity: Should be easy to assess, collect and understand.
(vi) Flexibility: Should be capable of being easily adjusted so as to be compatible with changing economic conditions.
(vii) Diversity: Different types of taxes imposed so that tax burden is on different groups of the society.
maurice.mutuku answered the question on August 11, 2017 at 08:14
- What factors should one consider when choosing a medium of advertisement?(Solved)
Highlight factors that should be considered when choosing a medium of advertisement.
Date posted: August 11, 2017. Answers (1)
- What disadvantages may a country experience from imposing trade restrictions on trading partners?(Solved)
Give the disadvantages that a country may experience from imposing trade restrictions on trading partners.
Date posted: August 11, 2017. Answers (1)
- What factors may cause a decrease in supply of a commodity in the market?(Solved)
List factors that may cause a decrease in supply of a commodity in the market.
Date posted: August 11, 2017. Answers (1)
- What are the causes of business success in Kenya?(Solved)
Highlight the causes of business success in Kenya.
Date posted: August 11, 2017. Answers (1)
- What are the most current methods of product promotion by businesses?(Solved)
Identify the most current methods of promotion by businesses.
Date posted: August 11, 2017. Answers (1)
- In what ways can an entrepreneur uphold business ethics?(Solved)
Give ways in which an entrepreneur can uphold business ethics.
Date posted: August 11, 2017. Answers (1)
- What are the mailing services offered by the Post Office?(Solved)
List the mailing services offered by the Post Office.
Date posted: August 11, 2017. Answers (1)
- Why would the Kenyan government consider privatizing Kenya Ports Authority?(Solved)
Give reasons why the Kenyan government would consider privatizing The Kenya Ports Authority.
Date posted: August 11, 2017. Answers (1)
- What are the challenges facing containerization as a means of transporting goods?(Solved)
List the challenges facing containerization as a means of transporting goods.
Date posted: August 10, 2017. Answers (1)
- In what ways may the process of creation of goods negatively impact on the health of the community?(Solved)
Explain ways in which the process of creation of goods may negatively impact on the health of the community.
Date posted: August 10, 2017. Answers (1)
- What roles does the insurance industry play in an economy?(Solved)
Give the roles that the insurance industry plays in an economy.
Date posted: August 10, 2017. Answers (1)
- What measures may the government use to curb undesirable levels of inflation?(Solved)
Discuss measures that the government may use to curb undesirable levels of inflation.
Date posted: August 10, 2017. Answers (1)
- What are the features of good money?(Solved)
List the features of good money.
Date posted: August 10, 2017. Answers (1)
- What are the causes of unemployment in Kenya today?(Solved)
List the causes of unemployment in Kenya today.
Date posted: August 10, 2017. Answers (1)
- What are the items contained in the partnership Act of 1963(Kenya)?(Solved)
List the items contained in the partnership Act of 1963(Kenya).
Date posted: August 10, 2017. Answers (1)
- What challenges are likely to face the implementation of vision 2030?(Solved)
Give the challenges that are likely to face the implementation of vision 2030.
Date posted: August 10, 2017. Answers (1)
- In what ways may inflation be of benefit to a trader and the growth of the economy?(Solved)
Give ways in which inflation may be of benefit to a trader and the growth of the economy.
Date posted: August 10, 2017. Answers (1)
- What are the macro-environment factors affecting operations of a business?(Solved)
List the macro-environment factors that affect operations of a business.
Date posted: August 10, 2017. Answers (1)
- What are the features of Co-operative societies?(Solved)
List the features of Co-operative societies.
Date posted: August 10, 2017. Answers (1)
- What are the trends in international trade?(Solved)
List the trends in international trade.
Date posted: August 10, 2017. Answers (1)