Taxation

Taxation is the process by which a government levies financial charges on individuals, businesses, or transactions to generate revenue. These charges, known as taxes, can take various forms, including income taxes, sales taxes, property taxes, and corporate taxes. Taxation serves multiple purposes, including funding government operations, public services, infrastructure, and social programs, as well as redistributing wealth and influencing economic behavior. The rates and types of taxes imposed can vary significantly between different countries and jurisdictions, reflecting the policy decisions of governments and their economic strategies. Taxation is a crucial aspect of fiscal policy and plays a fundamental role in the functioning of modern economies.