Tax laws are rules established by governments to determine how much individuals and businesses must pay in taxes. These laws outline various types of taxes, such as income tax, sales tax, and property tax, and specify rates and exemptions. They help fund public services like education, healthcare, and infrastructure. Tax laws can vary significantly between different countries and regions, reflecting local economic conditions and policy goals. Compliance with these laws is essential, as failure to pay taxes can result in penalties or legal consequences. Understanding tax laws is important for effective financial planning and ensuring legal obligations are met.