What is tax?
4 June 2023 (Updated 4 June 2023)
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In a nutshell
Tax is a financial charge imposed on an individual or legal entity (e.g., corporation) by a governmental organisation to fund government spending (e.g., education, healthcare, police, waste disposal, etc)..
Types of taxes
- Income tax
- Corporate tax
- Inheritance tax
- Tariffs (imports and exports of goods).
Tagged:
Economics
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