Taxation meaning

What is tax and taxation really? How to use taxation in a sentence. Taxation is the amount of money that people have to pay in taxes.

Governments use taxation to encourage or discourage certain economic decisions. Taxation, imposition of compulsory levies on individuals or entities by governments.

Taxes are levied in almost every country of the worl primarily to raise revenue for government expenditures, although they serve other purposes as well. The two basic kinds of taxes are excise taxes and property taxes. Excise Tax An excise tax is directly imposed by the law-making body of a government on merchandise, products, or certain types of transactions, including carrying on a profession or business, obtaining a license, or transferring property. The term taxation applies to all types of involuntary levies, from income to capital gains to estate taxes. Access IRS Tax Forms.

Complete, Edit or Print Tax Forms Instantly. Taxes are an obvious benchmark, since right now, employed teenagers are literally subjected to taxation without representation.

Taxation refers to the practice of a government collecting money from its citizens to pay for public services. Without taxation , there would be no public libraries or parks. One of the most frequently debated political topics is taxation. When the government charges a tax on income earne products purchase and property owne this is an example of taxa. Familiarity information: TAXATION used as a noun is uncommon.

The meaning of business taxation refers to the taxes that businesses must pay as a normal part of business operations. Whether you are a sole proprietor, partner, part of a limited liability company, or a corporation, your business is responsible for adhering to tax regulations. Each type of business will produce distinct tax consequences. Tax is an amount of money that you have to pay to the government so that it can pay for public services. No-one enjoys paying tax.

They are calling for large spending cuts and tax increases. In economics, taxes fall on whomever pays the burden of the tax, whether this is the entity being taxe like a business,. Tax definition is - a charge usually of money imposed by authority on persons or property for public purposes.

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The recent shift towards indirect taxation would have lowered even further the position of this country in the comparative scene. INDIRECT TAXES - SALES TAX, VALUE-ADDED TAX, EXCISE DUTY and TARIFF). In national income analysis, taxation is a WITHDRAWAL from the CIRCULAR FLOW OF NATIONAL INCOME. See PUBLIC FINANCE, INLAND REVENUE. Oxford Dictionaries as The levying of tax.

Taxation (noun) the act of taxing, or assessing a bill of cost. If tax is levied directly on personal or corporate income,. Definition of tax: A fee charged (levied) by a government on a product, income, or activity.

Definition: Tax Revenue forms part of the Receipt Budget, which in turn is a part of the Annual Financial Statement of the Union Budget. The policy of ‘’’taxation in the Philippines’’’ is governed chiefly by the Constitution of the Philippines and three Republic Acts. Constitution: Article VI, Section of the Constitution states that “the rule of taxation shall be uniform and equitable” and that “ Congress shall evolve a progressive system.