Taxation: Overview

What is a TAX?

A tax (from the Latin taxo; "rate") is really a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) with a state or the functional equivalent of your state to fund various community expenditures. A failure to spend, or evasion of or level of resistance to taxation, is usually punishable by law. Taxes are also imposed by many administrative divisions. Taxes include things like direct or indirect taxes and may even be paid in money or even as its labour equivalent. Few countries impose no taxation at all, such as the United Arab-speaking Emirates.

Below is the Brief History on Taxes: