Tag Archives | Tax

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 […]

Concept of Optimal Taxation: 3 Criterions

This article throws light upon the three main criterions for defining the concept of optimal taxation. The criterions are: 1. Minimization of Resource Cost 2. Equity Criteria 3. Efficiency Criteria. Criteria # 1. Minimization of Resource Cost: A tax system usually involves cost of collection to the authorities and a resource cost to the taxpayers. […]

Equitable Distribution of Tax Burden: 3 Principles

This article throws light upon the three main principles for equitable distribution of tax burden. The principles are: 1. The Cost of Service Principle 2. The Benefit Principle 3. Ability to Pay Theory. 1. The Cost of Service Principle: This principle suggest that the cost incurred by the government in providing public goods to satisfy […]

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