Archive | Public Revenue

Tax: Characteristics, Objectives and Canons

After reading this article you will learn about:- 1. Definition and Characteristics of Tax 2. Objectives of Taxation 3. Principles. Definition of Tax: In every country major part of the revenue is raised through taxation. According to Prof. Taylor “Taxes are compulsory payments to gov­ernments without expectations of direct return or benefit to the tax […]

Public Revenue: Meaning and Classification

After reading this article you will learn about the meaning and classification of public revenue. Meaning of Public Revenue: According to Dalton income of a public authority may be defined either in a broad or in a narrow sense. In the broad sense it includes all ‘incomings’ or ‘receipts’. In the narrow sense it includes […]

Measuring the Ability to Pay: Subjective and Objective Approach

After reading this article you will learn about the subjective and objective approach used for measuring the ability to pay. Subjective Approach to Measure the Ability to Pay: The ability to pay principle is interpreted in terms of sacrifice on the part of the taxpayers. Payment of tax involves some sacrifice on the part of […]

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