Taxes are compulsory financial contributions imposed by governments on individuals, businesses, and other entities. They are essential sources of revenue used to fund public services, infrastructure, and government operations.
Taxes can take various forms, including income tax, sales tax, property tax, and corporate tax, among others. The amount of tax owed is typically determined by factors such as income, profits, or the value of assets.
Taxation policies vary widely across jurisdictions and can impact economic behavior, distribution of wealth, and social welfare programs.
