Get premium membership and access revision papers with marking schemes, video lessons and live classes.
Processing. Please wait.

 KCSE business studies paper 2 revision questions and answers set 3

Explain five principles of taxation.

 (2m 12s)
447 Views     SHARE

Download as pdf file

Answer Text:
Diversified: should be diversified so that it meets revenue requirements of the country and also line with principle of equality
-Flexible:Should be able to change in accordance to changes in national income
-Elastic:Should allow government to increase revenue as need arises
-Economic:Cost of administering should be low than revenue collected
-Convinient: should be convenient to both contributor and collector
-Equitable: good tax system should ensure that there is fairness in payment of tax