Senior 5 Entrepreneurship Notes: Principles and Types of Taxation

These Senior 5 Entrepreneurship notes from Trinity College Nabbingo cover the principles of taxation, including fairness, certainty, convenience, economy, simplicity and efficiency. They explain horizontal and vertical equity alongside the benefit and ability-to-pay principles. The notes distinguish direct taxes on income and property from indirect taxes on goods and services, using examples such as PAYE, rental income tax, corporation tax, customs duty and VAT. They also discuss the advantages and disadvantages of both tax categories, considering government revenue, income distribution, investment, consumption and employment. The document is labelled as a continuation of earlier notes.