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Sagot :
The main purpose of taxes is to generate revenue for funding government programs.
The Goods and Services Tax (GST), income tax, corporate tax, non-tax receipts, and union excise charges are the government's top 5 revenue sources.
Taxes are compulsory payments made by a government organization, whether local, regional, or federal, to people or businesses. Tax revenues are used to fund a variety of government initiatives, such as Social Security and Medicare as well as public infrastructure and services like roads and schools.
There are several highly popular taxes types, including:
- Income tax
- Payroll tax
- Corporate tax
- Sales tax
- Property tax
- Tariff
- Estate tax
To learn more about Taxes click here:
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