What is the definition of Taxation ?
- Posted on November 27, 2019
- Financial Terms
- By admin admin
Taxation is the process of a government claiming money from the general population for the purpose of using that money to run the country. Ideally, a government will only spend the amount it gains in taxation, although in the Western world it usually spends far more and runs a budget deficit.
Taxation simply means Tax collection or tax payment. This form of payment is usually made to the government or the state. The fund is then used to maintain the state or country.
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