The basic principle of sound tax system?

1. Fiscal Adequacy - the sources of tax revenue should coincide with, and approximate the needs of government expenditure. Neither an excess nor a deficiency of revenue vis-à-vis the needs of government would be in keeping with the principle.

2. Administrative Feasibility - tax laws should be capable of convenient, just and effective administration.

3.Theoretical Justice - the tax burden should be in proportion tothe taxpayer¶s ability to pay

( ability- to - pay principle). The 1987Constitution requires taxation to be equitable and uniform.