Tax
What is Tax?
Tax is a mandatory financial charge or levy imposed on individuals or organizations by governmental entities (national, regional, or local) to fund public services and infrastructure. It is a key instrument of fiscal policy, influencing resource allocation and economic activity. Taxes can take many forms, including income tax, sales tax, property tax, and excise tax. Tax systems vary significantly across jurisdictions, reflecting different economic priorities and social values. Proper compliance with tax laws is crucial for individuals and businesses.
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