Tax
Tax is a mandatory financial charge imposed by governments on individuals and businesses. It is used to fund public services such as education, healthcare, and infrastructure. Taxes can come in various forms, including income tax, sales tax, and property tax, each serving different purposes.
The amount of tax owed typically depends on income level, property value, or the type of goods purchased. Governments use tax revenue to maintain and improve community services, ensuring that essential needs are met for all citizens. Understanding taxes is important for responsible financial planning and civic engagement.