A tax (from Latin taxo) is a compulsory financial fee or any other type of tax that is levied by a government organisation on a taxpayer (a natural or legal person) to finance various public expenses. Failure to pay with tax evasion or deterrence is punishable by law. Taxes include direct or indirect taxes and can be paid in money or equal to their labour. The first known taxation occurred in ancient Egypt around 3000–2800 BCE. C.
Most countries have a tax system to pay for public, shared or nationally agreed on needs and government functions. Some people charge a flat tax rate on personal annual income, but most taxes based on yearly income amounts. Most countries tax a person’s income as well as corporate income. Countries or colonies also often impose wealth taxes, inheritance taxes, inheritance taxes, gift taxes, property taxes, sales taxes, payroll taxes or tariffs.
In economic terms, taxation transfers money from households or businesses to the government. It has effects that can increase and reduce both economic growth and economic welfare. Consequently, tax is a subject of much debate.
- Provide practical training experience
- Provide training on Income Tax
- Provide training on Corporation Tax
- Provide training on VAT Returns, IHT, NI, Self-Assessment
- Training on Tax efficiency and set up firm
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