Examlex
According to survey data,
Horizontal Equity
A principle in taxation that asserts that individuals with the same income or resources should pay the same amount in taxes.
Vertical Equity
A principle in tax policy that states taxpayers with a greater ability to pay should contribute more in taxes.
Small Economy
Refers to an economy with a relatively limited size in terms of population, output, and market activity, often more susceptible to external economic influences.
Horizontal Equity
A principle in taxation and welfare distribution that posits individuals with similar income or ability to pay should be treated equally.
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