What are the canons of taxation?

The canons or principles of taxation are

1. Economic (cost effective, meaning it should cost less to collect the taxes than the tax revenue)

2. Equity (fair taxation in terms of horizontal and vertical equity)

3. Certainty (people should know how and when to pay)

4. Convenience (simplicity or ease)

More details: http://www.bized.co.uk/virtual/economy/policy/tools/income/inctaxth1.htm

*Canon of certainty says that tax policies should not alter regularly.

and there are some more canons.

Such as,

5.Canon of Neutrality (tax policy should not make abnormality in Market)

6.Canon of Incentives (a tax should not harm the factors which motivate economical sectors)