Related topics: carbon emissions

Economists find net benefit in soda tax

A team of economists has concluded that soda taxes serve as a "net good," an assessment based on an analysis of health benefits and consumer behavior. The work, which sees advantages similar to those of long-standing cigarette ...

Study points to 'policy blueprint' for AI and machine-learning

At a time of rapidly changing industry, with potentially huge consequences for society, governments face a dilemma of how to incentivise entrepreneurship and innovation while at the same time ensuring that innovation benefits ...

Green energy nudges come with a hidden cost

All across the United States, many households receive energy bills comparing their use to that of similar neighbors to remind them to use less energy. At most companies, employees are automatically enrolled in 401(k) plans ...

States race to regulate car-sharing apps as industry revs up

When Chris Williamson was in the market for a new family car, a timely ad and conversations with a co-worker convinced him to try something out of the ordinary. He bought a BMW 3 Series convertible and covers the payments ...

Car-sharing apps' popularity drives debate about taxes

When Chris Williamson was in the market for a new family car, a timely ad and conversations with a co-worker convinced him to try something out of the ordinary. He bought a BMW 3 Series convertible and covers the payments ...

Foxconn says it's looking for 'flexibility' with Wisconsin

Foxconn Technology Group insists it remains committed to a $10 billion project in Wisconsin that employs up to 13,000 people, while saying it is also looking for "flexibility" in the deal struck with much fanfare in 2017 ...

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Tax

To tax (from the latin taxare: to estimate, which in turn is from tangere: to touch) is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state.

Taxes are also imposed by many subnational entities. Taxes consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent (often but not always unpaid). A tax may be defined as a "pecuniary burden laid upon individuals or property to support the government […] a payment exacted by legislative authority." A tax "is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority" and is "any contribution imposed by government […] whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other name."

In modern taxation systems, taxes are levied in money, but in-kind and corvée taxation are characteristic of traditional or pre-capitalist states and their functional equivalents. The method of taxation and the government expenditure of taxes raised is often highly debated in politics and economics. Tax collection is performed by a government agency such as Canada Revenue Agency, the Internal Revenue Service (IRS) in the United States, or Her Majesty's Revenue and Customs (HMRC) in the UK. When taxes are not fully paid, civil penalties (such as fines or forfeiture) or criminal penalties (such as incarceration) may be imposed on the non-paying entity or individual.

This text uses material from Wikipedia, licensed under CC BY-SA