NATURE OR CHARACTERISTICS OF THE POWER OF TAXATION

1. It is an attribute of sovereignty.
2. It is legislative in character.
3. It is subjective to international comity or treaty.
4. It is subject to constitutional and inherent limitations.
5. It is generally payable in money.
6. It is territorial.
7. It is for public purpose.

SCOPE OF THE POWER OF TAXATION

 Taxation is (CUPS):
a. Comprehensive – it covers practically everything (e.g. persons, businesses, activities, etc.)
b. Unlimited – in the absence of limitations, the power to tax is unlimited.
c. Plenary – it is complete.
d. Supreme – as to the selection of the subject/object of taxation.