Outlinefourshort comings of a country borrowing heavily from internal and external sources

2.Mentionfourcannons of taxation

3.Statefourreasons why government levy taxes

4.Identifyfourmethods that a government can use to finance a national budget deficit

5.Match the following types of taxes with the appropriate description given below:-

Corporate tax, Customs duty, Estate duty, Excise duty

Tax

Description

(a)

Is a tax levied on manufactured goods

(b)

Is a tax levied on wealth of a person after his death

(c)

Is a tax levied on entry of goods into a country

(d)

Is a tax levied on profits of business enterprises

6.Highlight anyfourfeatures of a good tax system

7.Outlinefiveprinciples of taxation

8.Differentiate between progressive and regressive taxation giving an example of each

9.Highlightfouradvantages of direct tax

10.Highlightfoursources of revenue to the local authorities

PUBLIC FINANCE

1.Discussfiveprinciples of taxation

2.Outlinefivesources of non- tax public revenue

3.Explainfiveprinciples of public expenditure

4.Highlightfivereasons for imposition of tax by the government

5.Discussfive characteristicsof a good tax system

6.Outlinefivereasons why the Kenya government must impose tax.