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A little confused about the taxation theory? Get it clear with our experts by reading below.
A compulsory financial charge levied on the public for the funding of government expenses and various other public expenditures are known as tax. The government collects taxes from the public and uses them for the development of the county and its citizens. The field that studies tax is known as taxation. Taxes give rise to the revenue funds of the government. Through these taxes, the government takes care of the development and welfare of the public.
The tax imposed on different people is of different amounts. There are different ways to compute the tax for individuals, organizations, employees, business persons, etc.
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