tax
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national). A failure to pay in a timely manner, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent. The first known taxation took place in Ancient Egypt around 3000–2800 BC.
Most countries have a tax system in place, in order to pay for public, common, or agreed national needs and for the functions of government. Some levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of annual income amounts. Most countries charge a tax on an individual's income as well as on corporate income. Countries or subunits often also impose wealth taxes, inheritance taxes, estate taxes, gift taxes, property taxes, sales taxes, use taxes, payroll taxes, duties and/or tariffs.
In economic terms, taxation transfers wealth from households or businesses to the government. This has effects that can both increase and reduce economic growth and economic welfare. Consequently, taxation is a highly debated topic.
View More On Wikipedia.org
Most countries have a tax system in place, in order to pay for public, common, or agreed national needs and for the functions of government. Some levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of annual income amounts. Most countries charge a tax on an individual's income as well as on corporate income. Countries or subunits often also impose wealth taxes, inheritance taxes, estate taxes, gift taxes, property taxes, sales taxes, use taxes, payroll taxes, duties and/or tariffs.
In economic terms, taxation transfers wealth from households or businesses to the government. This has effects that can both increase and reduce economic growth and economic welfare. Consequently, taxation is a highly debated topic.
View More On Wikipedia.org
Creating content since 2001. Untold Media.
Newest Plumbing Threads
-
Running copper pipework above / across a Gas boiler?
- Started by kristeva
- Replies: 1
-
Installing pipework to avoid airlocks
- Started by Matt0029
- Replies: 1
-
DUK Pipes for thermostat shower fitted at different heights
- Started by Delforkids
- Replies: 2
-
-
-
SPorcelanosa KRION Attica screen 1.2m, anyone?
- Started by Sebastian T
- Replies: 0
-
Cistern filling one third of the way
- Started by dwaindigital
- Replies: 3
-
Boiler losing pressure only on central heating- Started by SnosRap75
- Replies: 6
-
tanking. Is it ok to just seal everything with plastic.
- Started by Staggersandfalls
- Replies: 3
-
Pop quiz, does anyone recognise this radiator valve?
- Started by dimuc
- Replies: 4
-
SUsing coil to clear pipe leading to gutter
- Started by Sonya K
- Replies: 1
-
Replacing outdoor P-Trap Gully with Bottle Gully
- Started by DIwhYdidIstartThis
- Replies: 0
-
-
-