noun a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions
Taxation law deals with the constitutional, statutory, administrative, and common-law rules governing the imposition of taxes.
Taxation is the process of imposing a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state.
Taxation is a means by which governments finance their expenditure by imposing charges on citizens and corporate entities.
Taxation affects financial statements by reducing the net income of a business through the deduction of taxes.
Taxation is often a topic of discussion in articles and books written by writers, especially those focusing on economics, politics, or finance.
Psychologists may study the psychological effects of taxation on individuals and societies, or they may offer counseling to clients dealing with financial stress related to taxes.
Accountants help individuals and businesses navigate tax laws, prepare tax returns, and ensure compliance with tax regulations.
Lawyers specializing in tax law provide legal advice to clients on tax-related matters, represent them in disputes with tax authorities, and help them structure their finances to minimize tax liabilities.
Government officials, such as legislators, policymakers, and tax authorities, are responsible for creating, implementing, and enforcing tax laws at the local, state, and federal levels.
Financial advisors help clients develop tax-efficient investment strategies, plan for retirement, and manage their wealth in a tax-efficient manner.