Taxation docx
ILLUSTRATIONS OF LIFEBLOOD THEORY
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FAR-0-Bank-Recon-and-Proof-of-Cash-Drill-Problems
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- NATURE OR CHARACTERISTICS OF THE STATE’S POWER TO TAX
- POWER TO TAX
- POWER OF EMINENT DOMAIN
| ILLUSTRATIONS OF LIFEBLOOD THEORY - Collection of taxes cannot be enjoined by injunction. - Taxes could not be the subject of compensation or set off - A valid tax may result in the destruction of the taxpayer’s property - Taxation is an unlamented and plenary power NATURE OR CHARACTERISTICS OF THE STATE’S POWER TO TAX 1. It is inherent in sovereignty hence, it maybe exercised although it is not expressly granted by the Constitution. 2. It is legislative in character hence, only the legislature can impose taxes (although the power maybe delegated). 3. It is subject to Constitutional and inherent limitations; hence, it is not an absolute power that can be exercised by the legislature anyway it pleases POWER TO TAX - Power of the State to demand enforced contributions for public purposes - Enforced contribution is demanded for the support of the government POLICE POWER - Power of the State to enact such laws concerning persons and property as may promote public health, safety, morals, and the general welfare of the public - Use of property is regulated to promote the general welfare POWER OF EMINENT DOMAIN - Power of the State to take private property for public use upon paying to the owner a just compensation to be ascertained according to law - Property is taken for public use TAX DIFFERENTIATED FROM OTHER TERMS TARIFF/DUTIES - Customs duties, or simply duties, are taxes imposed on goods exported from or imported into a country. - Tariff maybe used in one of three senses: a. A book of rates drawn usually in alphabetical order containing the names of several kinds of merchandise with the corresponding duties to be paid for the same or b. The duties payable on goods imported or exported or c. The system or principle of imposing duties on the importation or exportation of goods. Download 74.27 Kb. Share with your friends:
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