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TAXATION
TAXATION-
Is the inherent power of the sovereign, exercised
through the legislature, to impose burdens upon
subjects and objects within its jurisdiction for the
purpose of raising revenues to carry out the legitimate
objects of government.
the action, process, or system of taxing people
or things
TAXES-
are the enforced proportional contributions
from persons and property levied by the law-making
body of the state by virtue of its sovereignty for the
support of the government and all public needs.
Essential elements of a tax
Inherent limitations
License fee
1. Fiscal adequacy
it means that the sources of revenue should be sufficient to
meet the demands of public expenditure. (Chavez V. Ongpin,
186 SCRA 331)
3. Administrative feasibility
It means that the laws should be capable of convenient, just
and effective administration