Q1.

Tax is define as “a payment to central government, calculated by laid down rule, for which nothing specifically usable by that tax payer alone is transfer.” Critically discuss the aforementioned definition. Explain whether this definition is applicable in nowadays taxation.

Q2. The tax system of any country is an integral part of the overall economic system and is expected to contribute to social and economic objectives. Discuss.

Q3. Expain : The impact of taxation on the valuation of a country’s currency. How can taxation be used to: 1. Correct a country’s balance of payment position taking into consideration the elasticity of commodity. 2. fight against inflation. 3. Control the consumption of certain good. 4. Generate income for a state. 5. Enhance economic growth.