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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 тАУ Taxes should be levied based on the taxpayer's ability to pay. 2. Certainty тАУ Tax amount, time, and mode should be certain. 3. Convenience тАУ Tax should be collected at a time convenient to the taxpayer. 4. Economy тАУ Cost of collecting tax should be minimal. Canon of Simplicity is a modern interpretation, not originally proposed by Adam Smith.

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