What taxation?

Taxation refers to the system of collecting money from individuals and businesses by the government in order to fund public services and infrastructure. Taxes can be collected in various forms, such as income tax, sales tax, property tax, and corporate tax.

- Income tax: A tax levied on the income of individuals and businesses.
- Sales tax: A tax levied on the sale of goods and services.
- Property tax: A tax levied on the ownership of real property.
- Excise tax: A tax levied on the production, sale, or use of specific goods and services.
- Estate tax: A tax levied on the value of an individual's estate at death.
- Gift tax: A tax levied on the transfer of property by gift.
- Payroll tax: A tax levied on the wages and salaries of employees.
- Use tax: A tax levied on the use of goods or services that are not subject to sales tax.
- Windfall profits tax: A tax levied on the profits of unexpected events.
- Tariff: A tax levied on the import or export of goods.
- Value-added tax (VAT): A tax levied on the value added to goods and services at each stage of production and distribution.