Principles
of Taxation
1.
Session Objectives
By
the end of this session you should be able to:
-explain
taxation;
-explain the
components of tax;
-explain the
forms of tax charges;
-state the
kinds of tax and give at least two (2) examples each;
-explain the
features of good tax system; and
-state the
importance of tax.
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2.
Introduction
Governments all over the world impose taxes on their
citizenry. These taxes are imposed with
different motives. Taxation is one of the systems of governments which most
populace do not understand and hence dislike it. As the late South African reggae star; Lucky
Dube indicated in one of his hit songs, the taxman is the only man people pay
without knowing what they are paying for.
Taxation is a necessary tool for every organized society. In this session we will explain taxation,
identify the kinds of tax and examples, mention the importance of taxation and
take a look at the features of a good tax system.
