Tax is a financial charge imposed by a government on individuals, businesses, and other entities to fund public services and infrastructure. It is a crucial tool for generating revenue that enables governments to maintain law and order, provide social welfare, and invest in economic development. Taxes are generally classified into direct and indirect taxes, each … Read more
A tax year is 12 months used by individuals, businesses, and governments to calculate and report taxable income. It determines when tax returns must be filed and taxes must be paid. Tax years vary by country and can be either a calendar year or a fiscal year, depending on the applicable tax laws and accounting … Read more
Tax law is a set of legal rules and regulations governing how taxes are imposed, collected, and managed by the government. It covers various types of taxes, including income tax, corporate tax, sales tax, and property tax, ensuring that individuals and businesses comply with tax obligations. Understanding tax law is essential for taxpayers to fulfil … Read more