{"id":39073,"date":"2018-02-09T14:20:15","date_gmt":"2018-02-09T14:20:15","guid":{"rendered":"http:\/\/localhost:8888\/cregital\/disha\/2018\/02\/09\/petroleum-tax\/"},"modified":"2018-02-09T14:20:15","modified_gmt":"2018-02-09T14:20:15","slug":"petroleum-tax","status":"publish","type":"post","link":"https:\/\/msmehub.org\/staging\/6671\/petroleum-tax\/","title":{"rendered":"Petroleum Tax"},"content":{"rendered":"<p>The word Tax and Taxation have been used interchangeable to mean the same thing. This is not so. Tax, in the words of Dalton, H. &#8220;is a compulsory contribution imposed by a public authority, irrespective of the exact amount of service rendered to the taxpayer in return, and not imposed as penalty for any legal offence.&#8221;&nbsp; \uf0a7 whereas taxation could be described as all the processes involved in the contract drafting\/negotiation for the design of the fiscal system, the legal framework, administration and imposition.&nbsp;<\/p>\n<p>&nbsp;A good tax system should have some basic characteristic. These characteristics, as opined by Adams Smith in his book \u201cThe Wealth of Nations\u201d are referred to as Canons of Taxation. Accordingly, Adam Smith stated four (4) basic canons of taxation to include:&nbsp; \uf0a7 Equity&nbsp; \uf0a7 Certainty&nbsp; \uf0a7 Convenience&nbsp; \uf0a7 Economy&nbsp;&nbsp;<\/p>\n<p>These canons of taxation have today been expanded to include&nbsp; \uf0a7 the design of the fiscal system and&nbsp; \uf0a7 the legal framework&nbsp;&nbsp;<br \/>&nbsp;<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Petroleum Tax&#8230;<\/p>\n","protected":false},"author":1001,"featured_media":40718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-39073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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