Question

Write two features of tax.

Answer 1

Answer:

A good tax system should meet five basic conditions: fairness, adequacy, simplicity, transparency, and administrative ease. Although opinions about what makes a good tax system will vary, there is general consensus that these five basic conditions should be maximized to the greatest extent possible.

Answer 2

Answer:

There are two important concepts of equity: horizontal equity and vertical equity. ... Vertical equity involves classifying taxes as regressive, proportional, or progressive. Regressive tax: A tax is regressive if those with low incomes pay a larger share of income in taxes than those with higher incomes.

Explanation:

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