0
(1) Fiscal adequacy - means that the sources of revenues should be sufficient to meet the demand of public expenditures.(2) Equality or theoretical justice - means that the tax burden should be in proportion to the taxpayer's ability to pay. (ability-to-pay principle). (3) Administrative feasibility - means that tax laws should be capable of convenient, just and effective administration.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is the basic principle of tax system?
To generate revenues to pay for government expenditures.
Principles of a good tax system?
The principles of good tax system is that it is efficient, understandable and equitable. The benefit principle is also another principle of a good tax system.
The basic principle of sound tax system?
1. Fiscal Adequacy - the sources of tax revenue should coincide with, and approximate the needs of government expenditure. Neither an excess nor a deficiency of revenue vis-à-vis the needs of government would be in keeping with the principle.2. Administrative Feasibility - tax laws should be capable of convenient, just and effective administration.3.Theoretical Justice - the tax burden should be in proportion tothe taxpayer¶s ability to pay( ability- to - pay principle). The 1987Constitution requires taxation to be equitable and uniform.
What do you mean by sound tax system?
If something is "sound" it means that it is does not have any flaws or defects. Therefore a "sound" Tax system would be one that worked effectively.
What are the two principles used to assess fairness of a tax?
Benefits principle and Ability to pay principle.
What is the basic principle of tax system?
To generate revenues to pay for government expenditures.
Principles of a good tax system?
The principles of good tax system is that it is efficient, understandable and equitable. The benefit principle is also another principle of a good tax system.
What are the basic principles of sound tax system?
Fair and square, It's all from people, and it comes to the people.
The basic principle of sound tax system?
1. Fiscal Adequacy - the sources of tax revenue should coincide with, and approximate the needs of government expenditure. Neither an excess nor a deficiency of revenue vis-à-vis the needs of government would be in keeping with the principle.2. Administrative Feasibility - tax laws should be capable of convenient, just and effective administration.3.Theoretical Justice - the tax burden should be in proportion tothe taxpayer¶s ability to pay( ability- to - pay principle). The 1987Constitution requires taxation to be equitable and uniform.
What do you mean by sound tax system?
If something is "sound" it means that it is does not have any flaws or defects. Therefore a "sound" Tax system would be one that worked effectively.
What is the principle that justifies a regressive tax?
The benefits-received principle justifies a regressive tax.
Describe the difference between a regressive tax system and a progressive tax system and the state the principle that supports each one?
A Regresssive tax system is when a larger percantage frome the income from low-income people than the income of high-income people
Which basic principle of democracy would be used to justify taxing money from the wealthy and redistributing it among the poor?
This is the principle of socialism or marxism. It is not a democratic principle per se, even though many democracies have this behavior written in their tax codes.
How much is a paramax p-150?
Found the projector with a screen and sound system for about $10,000 without tax.
What are the two principles used to assess fairness of a tax?
Benefits principle and Ability to pay principle.
How could you describe a tax that is assessed according to the benefits received principle?
To describe a tax that is assessed according to the benefits received principle one must first view the rules or laws that makes that tax that is supposed to assessed official.
The gas tax is an example of the taxation principle of?
benefits-received.
