A Tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national).The overall concept about tax payment is that it is beneficial on multiple levels including the development of the nation economically socially etc. It also goes to betterment of infrastructure like roads, schools, markets, hospitals etc. payment of tax is able to uplift the wellbeing of society and advance welfare activities for the nation.Taxes are levied by governments on their citizens to generate income for undertaking projects to boost the economy of the country and to raise the standard of living of its citizens. For example, if funds are available for government to use, medicines will be available in hospitals for citizens to access, be healthy and contribute to the country’s economy. Availability of funds will […]
IMPORTANCE OF PAYING TAX
