Concept and Nature of Power of Taxation

 

What is the concept and nature of power of taxation?

TAXATION

●     is the act of laying a tax, the process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of government

●     Merely a way of apportioning the cost of government among those who in some measure are privileged to enjoy its benefits, and therefore, must bear its burden

●     Inherent power of the state to demand enforced contributions for public purpose or purposes