What are the bases of exercise of tax power?

The bases for the exercise of tax power include the government's need to generate revenue for public services and infrastructure, the principle of ability to pay, and the promotion of social equity. Taxation is also justified by the necessity to regulate economic behavior and redistribute wealth. Additionally, the legal framework established by the constitution and legislation governs the scope, authority, and limits of taxation powers. Overall, the exercise of tax power aims to balance fiscal needs with fairness and economic stability.