Name: ____________________________ Date: __________________
Instruction: The examination consist of six (6) items. Discuss each item concisely.
- What is taxation?
- What is the primary purpose of taxation?
- What is the meaning of taxes?
- May levying of taxes be also made by a local legislative body?
- Discuss the following essential characteristics of tax.
- It is an enforced contribution.
- It is generally payable in money.
- It is levied by the law-making body of the state.
- It is levied for public purpose or purposes.
- The following are the nature of the power of taxation. Discuss.
- It is legislative in character.
- It is subject to constitutional and inherent limitations.