Taxation – An Introduction
A tax is any financial burden or other sort of levy imposed upon a taxpayer by some governmental body in order to support government spending and various social public needs. A person who has failed to pay, or evasion of or disobedience to tax, is liable to punishment by law. Taxes have many different types, which fall under the heading of personal income tax, sales tax, value-added tax and estate tax. The latter is levied on the assets of individuals and businesses, including real estate. These taxes are collected by…
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