Tax System
A tax system is a structured way for governments to collect money from individuals and businesses to fund public services and infrastructure. This system typically includes various types of taxes, such as income tax, sales tax, and property tax, each serving different purposes. The collected funds are used for essential services like education, healthcare, and transportation.
Tax systems can vary significantly between countries and regions, reflecting different economic conditions and policy goals. They are designed to ensure that everyone contributes fairly based on their ability to pay, which is often assessed through a progressive tax structure, where higher earners pay a larger percentage of their income in taxes.