Related topics: carbon emissions

The quest for a holistic pesticide policy

Bans and simple measures alone won't solve the problems in plant protection. Robert Finger presses for a comprehensive pesticide policy.

Owe the IRS? No problem, some Americans say

A new study shows the surprising way that many American taxpayers adjust their standard of living when they owe money to the IRS versus when they receive tax refunds.

Online tool shows COVID-19 impact on sales tax

Three Georgia regions experienced double-digit declines in sales tax distributions in the June quarter during the coronavirus pandemic, according to an online interactive data tool created by Georgia State University's Fiscal ...

When board members get involved, corporate tax burden goes down

New research finds that corporate tax-planning practices improve when a company's board takes an interest in tax-planning practices—and better planning results in both less tax uncertainty and a lower tax burden.

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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