Question

Which of the following is not a canon of taxation as proposed by Adam Smith?

Q: Answer-Which of the following is not a canon of taxation as proposed by Adam Smith?

Adam Smith, in his book The Wealth of Nations, laid down four canons of taxation 1. Equality Taxes should be levied based on the taxpayers 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.