Income Taxation Reviewer For Finals

T a xatio n Is th e pro ce ss or means by whic h th e s o ve re ig n, th ro ugh it s la w makin g body ( g alin g dit o ang ta x lik e co ngre ss) im pose s b urd ens upon su bje cts and obje cts (p ers o n = co m munit y ta x; pro perty wit h in th e ph; p riv ile ges) wit h in it s ju ris d ic tio n (w it h in ph l n g) fo r th e purp ose of ra is in g re ve nues to c a rry out th e le git im ate obje cts of govt. As a pow er of th e Sta te, is i nhere nt in s o ve re ig nty. (d ka ila ngan naka su la t sa c o nstit u tio n, ta xa tio n is natu ra l) Are enfo rc e d pro portio nal co ntr ib utio n s fr o m p ers o ns and pro perty le vie