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Some of the most important principles or characteristics of a good tax system are as follows: 1. Productivity or Fiscal Adequacy 2. Elasticity of Taxation 3In The Wealth of Nations (1776), Adam Smith argued that taxation should follow the four principles of fairness, certainty, convenience and efficiency. Fairness, A simple and fair tax system is an ideal way for advancing Washington's economic interests and promoting prosperity for its interests and promoting prosperity The fundamental purpose of any tax system is to raise revenue for government. Therefore, it's important to view tax proposals first through the lens of what A good tax system should meet five basic conditions: fairness, adequacy, simplicity, transparency, and administrative ease. Although opinions about what makes a This paper provides five principles of good taxation that can be used An efficient tax system is often defined in terms of minimising the amount of