Examlex
GABA functions as the:
Ability-To-Pay Principle
This principle suggests that individuals should be taxed based on their ability to pay, regardless of the benefits they receive.
Equity Principle
A concept in finance that emphasizes fair distribution of wealth and assets, ensuring that financial transactions are conducted fairly and equitably.
Taxes
Mandatory financial charges or levies imposed by a government on individuals or businesses to fund public expenditure.
Proportional Tax
A tax system where the tax rate remains constant regardless of the amount subject to taxation, meaning all taxpayers pay the same percentage of their income.
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