Tax Types
There are several types of taxes that governments use to generate revenue. The most common types include income tax, which is based on an individual's earnings, and sales tax, which is added to the price of goods and services at the point of sale. Other types include property tax, levied on real estate, and corporate tax, which is imposed on the profits of businesses.
Additionally, there are excise taxes, which are specific taxes on certain goods like alcohol and tobacco, and capital gains tax, applied to profits from the sale of assets. Each tax type serves different purposes and contributes to funding public services and infrastructure.