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    Question

    Which of the following is not a canon of taxation as

    proposed by Adam Smith?
    A Canon of Equality Correct Answer Incorrect Answer
    B Canon of Certainty Correct Answer Incorrect Answer
    C Canon of Economy Correct Answer Incorrect Answer
    D Canon of Simplicity Correct Answer Incorrect Answer
    E Canon of Convenience Correct Answer Incorrect Answer

    Solution

    Adam Smith, in his book The Wealth of Nations, laid down four canons of taxation: 1. Equality – Taxes should be levied based on the taxpayer's ability to pay. 2. Certainty – Tax amount, time, and mode should be certain. 3. Convenience – Tax should be collected at a time convenient to the taxpayer. 4. Economy – Cost of collecting tax should be minimal. Canon of Simplicity is a modern interpretation, not originally proposed by Adam Smith.

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