Related topics: carbon emissions

Global supply chains as a way to curb carbon emissions

The coronavirus outbreak raised everyone's awareness of the significance of global supply chains to modern economies. But global supply chains also play an important role in greenhouse gas emissions. How they are managed ...

Banned! New York sends plastic bags packing

Consumerist mecca New York targets its throwaway culture this weekend with a ban on single-use plastic bags that has been years in the making and is still rare in America.

Tax rule for industry rewards carbon capture

When it comes to encouraging manufacturers to reduce their carbon dioxide (CO2) emissions, a carrot might be more effective than a stick. That's the approach taken by a recent U.S. tax code rule that offers credits to companies ...

Carbon pricing may be overrated, if history is any indication

A common demand in discussions about climate change is to respect the science. This is appropriate. We should all be paying close attention to the urgent and terrifying conclusions being published by climate scientists.

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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