Mataracy
VIP Contributor
Tax can be described as a compulsory contribution imposed by the government even though taxpayers may receive nothing identifiable in return for their contribution,they nevertheless have the benefit of living in relatively educated, healthy and safe society.
From my above description or definition one can affirm that tax is not levied in return for any specific service rendered by the government to taxpayer. However,levies are paid to the government in return for specific services by the taxpayer. Another form of levies is fines and penalties.
So in business its very good to be able to differentiate this. How did you see this tax and levies?.
From my above description or definition one can affirm that tax is not levied in return for any specific service rendered by the government to taxpayer. However,levies are paid to the government in return for specific services by the taxpayer. Another form of levies is fines and penalties.
So in business its very good to be able to differentiate this. How did you see this tax and levies?.