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Taxation with definition

In economics, taxes fall on whomever pays the burden of the tax, whether this is the entity being taxed, like a business, or the end consumers of the business's goods. Taxation is the amount of money that people have to pay in taxes. tax credit used to offset any foreign income tax taxpayers have paid on qualified income that is also subject to U. The term became part of an anti-British slogan when the original 13 A tax (from the Latin taxo) is a compulsory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund various public expenditures. Taxation is the system by which a government takes money from people and spends it on things such as education, health, and defence. One of the most frequently debated political topics is taxation. See more. Oct 18, 2019 · Taxation, imposition of compulsory levies on individuals or entities by governments. How to use taxation in a sentence. TAXABLE EVENT -- Term used to define an occurrence which affects the liability of a person to tax. Taxes are involuntary fees levied on individuals or corporations and enforced by a government entity - whether local, regional or national - in order to finance government activities. g. taxation definition: Taxation is the process by which the government collects money from people to use for government purposes. corporate income, personal income, real property. . S. TAX -- The OECD working definition of a tax is a compulsory unrequited payment to the government. Tax is an amount of money that you have to pay to the government so that it can pay for public services. Taxation without representation is the act of being taxed by an authority without the benefit of having elected representatives. taxation. U. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well. Taxation is the practice of collecting taxes (money) from citizens based on their earnings and property. federal income tax. (noun) When the government charges a tax on income earned, products purchased, and property owned, this is an example of taxaHints from the White House suggest that in his State of Union address, Bush will call for making last year's tax cuts permanent and perhaps for replacing the corporate income tax With a far more regressive national sales tax--a move that, if successful, would probably put the personal income tax …Taxation definition, the act of taxing. Without taxation, there would be no public libraries or parks. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxation definition is - the action of taxing; especially : the imposition of taxes. TAXABLE BASE -- The thing or amount on which the tax rate is applied, e. Tax definition, a sum of money demanded by a government for its support or for specific facilities or services, levied upon incomes, property, sales, etc. Definition of 'taxation'. Foregone interest The amount of interest that would be payable for any period if interest accrued at the applicable federal rate and was payable annually on December 31, minus any interest payable on the loan for that period. Taxation refers to the practice of a government collecting money from its citizens to pay for public services. The result will be higher taxation

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