Taxation is the practice of the government of levying taxes from individuals, institutions or groups. It is a compulsory transfer of money from the owner to the government. These are paid in support of the government.
Purpose of Taxation
Funds provided by taxation have been used to carry out the functions such as:
Military defense
Enforcement of law and public order
Protection of property
Redistribution of wealth
Economic infrastructure - roads, legal tender, enforcement of contracts, etc.,
Public works
The operation of government itself
Education systems
Healthcare systems
Pensions for the elderly
Unemployment benefits
Energy, water and waste management systems
Public transportation
Purpose of Outsourcing Taxation Services:
These days’ taxations services are widely outsourced in order to:
Taxation
