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Elective Taxation In Nepal

Taxation In NepalTU Board 2080

Explain the meaning of "Canon of Equity".

2

Answer

· Based on the official syllabus and past papers
Updated

The Canon of Equity is a fundamental principle in taxation that ensures fairness, justice, and reasonableness in the tax system. It emphasizes that taxes should be levied in a manner that is just, fair, and equitable to all taxpayers. This principle ensures that no individual or entity is unduly burdened by taxation while others escape liability.

Key aspects of the Canon of Equity include:

  • Equal treatment of equals: Taxpayers in similar circumstances should be taxed similarly.
  • Proportionality: Tax burdens should be distributed fairly based on the taxpayer’s ability to pay.
  • Reasonableness: Tax laws should not impose excessive or arbitrary burdens on taxpayers.

This principle helps prevent discrimination and ensures that the tax system operates transparently and justly.

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