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What do you mean by tax? A tax is a compulsory financial contribution levied by the government on individuals, businesses or organizations. And if you talk about simple words, tax is the money that people pay to the government which is used to provide public services. And if we talk about the primary purpose of taxes, it is to generate revenue for the government to fund public services such as education, healthcare, infrastructure and defense. Taxes are imposed by law and legally mandated under the authority of government based on constitutional or legislative provisions. There are two types of tax, direct tags and indirect tags.

What do you mean by tax? A tax is a compulsory financial contribution levied by the government on individuals, businesses or organizations. And if you talk abo…