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Which one of the following is not a ‘canon of taxation’ according to Adam Smith ?
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- Canon of certainty
- Canon of simplicity
- Canon of convenience
- Canon of economy
- Canon of certainty
Correct Option: B
In this book, titled ‘The Wealth of Nations, ‘Adam smith only gave four canons of taxation: (i) canon of equity; (ii) canon of certainty; (iii) canon of convenience; and (iv) canon of economy.
