Equity - the tax should be fair and just/people should be taxed according to their
income.
Economical - it should be cheap and easy to administer/cost effective/cost of
collecting should be lower than the revenue.
Convenient - method of payment should be convenient to the tax payer/
favourable to tax payer.
Certainty - tax payer/collector should know what, when and how to pay/collect.
Flexibility - where tax is used as an instrument of national policy, it should
be adaptable to all circumstances.
Simplicity - it should be easily understood.
Elasticity - proceeds from taxation should be capable of expanding/contracting
in line with changes in income/population.
gideon1 answered the question on September 23, 2017 at 17:52
- List five benefits that may accrue to a country with a large proportion of skilled labour force (Solved)
List five benefits that may accrue to a country with a large proportion of skilled labour force
Date posted: September 23, 2017. Answers (1)
- Give Reasons for privatizing public corporations. (Solved)
Give Reasons for privatizing public corporations
Date posted: September 23, 2017. Answers (1)
- Highlight five Factors that a trader may consider when choosing a means of transport (Solved)
Highlight five Factors that a trader may consider when choosing a means of transport
Date posted: September 23, 2017. Answers (1)
- Give a list of Circumstances in which the government may be involved in business (Solved)
Give a list of Circumstances in which the government may be involved in business
Date posted: September 23, 2017. Answers (1)
- List three basic features of a market (Solved)
List three basic features of a market
Date posted: September 23, 2017. Answers (1)
- List six Positive effects that production activities may have on community health (Solved)
List six Positive effects that production activities may have on community health
Date posted: September 23, 2017. Answers (1)
- Factors that may cause the supply curve to shift to the right(Solved)
Factors that may cause the supply curve to shift to the right
Date posted: September 23, 2017. Answers (1)
- List five Qualities of a successful salesperson (Solved)
List five Qualities of a successful salesperson
Date posted: September 23, 2017. Answers (1)
- State five Benefits that a country would get by developing her infrastructure(Solved)
State five Benefits that a country would get by developing her infrastructure
Date posted: September 23, 2017. Answers (1)
- Measures that a country can take to reduce the level of inflation (Solved)
Measures that a country can take to reduce the level of inflation
Date posted: September 23, 2017. Answers (1)
- State documents that may be required by the registrar of companies in order to register a public limited company(Solved)
State documents that may be required by the registrar of companies in order to register a public
limited company
Date posted: September 23, 2017. Answers (1)
- State five functions of the office(Solved)
State five functions of the office
Date posted: September 23, 2017. Answers (1)
- Highlight five External factors that may influence the operations of a business negatively(Solved)
Highlight five External factors that may influence the operations of a business negatively
Date posted: September 23, 2017. Answers (1)
- Explain ways in which Business Studies may benefit an individual(Solved)
Explain ways in which Business Studies may benefit an individual
Date posted: September 23, 2017. Answers (1)
- State four forms of economic integration that may exist between countries(Solved)
State four forms of economic integration that may exist between countries
Date posted: September 23, 2017. Answers (1)
- Outline one circumstance under which each of the following types of inflation may occur:
(i) Creeping inflation
(ii) Hyperinflation(Solved)
Outline one circumstance under which each of the following types of inflation may occur:
(i) Creeping inflation
(ii) Hyperinflation
Date posted: September 23, 2017. Answers (1)
- Outline four tools of monetary policy that a government may use to reduce excess money in circulation(Solved)
Outline four tools of monetary policy that a government may use to reduce excess money in circulation
Date posted: September 23, 2017. Answers (1)
- Highlight three benefits of globalization to a business enterprise(Solved)
Highlight three benefits of globalization to a business enterprise
Date posted: September 23, 2017. Answers (1)
- Outline four circumstances under which cash with order may be used(Solved)
Outline four circumstances under which cash with order may be used
Date posted: September 23, 2017. Answers (1)
- Discuss five causes of unfavourable balance of payment for most developing countries(Solved)
Discuss five causes of unfavourable balance of payment for most developing countries
Date posted: September 23, 2017. Answers (1)