Tax

To tax (from the Latin taxo; "I estimate") is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many administrative divisions. Taxes consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent (often but not always unpaid labour).

A tax is a "pecuniary burden laid upon individuals or property owners to support the government a payment exacted by legislative authority." A tax "is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority" and is "any contribution imposed by government whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other name."

Read more about Tax:  Overview, Purposes and Effects, Kinds of Taxes, History, Economic Effects

Other articles related to "tax":

Theories On Taxation - Optimal Tax
... Main article Optimal tax Most governments take revenue which exceeds that which can be provided by non-distortionary taxes or through taxes which give a double dividend ... it follows that putting the highest tax rates on the goods for which there is most inelastic supply and demand will result in the least overall deadweight costs ... Some economists sought to integrate optimal tax theory with the social welfare function, which is the economic expression of the idea that equality ...
Vehicle Excise Duty - Current Regulations
... kept on the public road are required to display a non-transferable vehicle licence ("tax disc") ... Failure to submit a SORN is punishable in the same manner as failure to pay duty and display a tax disc when using the vehicle on public roads ... If you have paid for vehicle tax by phone or online before the current disc runs out, then you can legally drive or keep your vehicle on the road whilst displaying the tax disc that has ...
Alejandro Toledo - Presidency - Economic Policy
... Although Toledo originally promised tax cuts, violent protests by civil servants prompted the increase in social sector spending that Toledo had also promised ... To tackle tax reform in June 2003, he brought in Peru’s first female prime minister, Beatriz Merino who quickly submitted proposals to the congress ... cut for all agencies and ministries, tax increases on beer, cigarettes and fuel, and an extension of the 18% sales and value-added tax to, among other things, long-distance bus journeys and live ...
Varlık Vergisi
... Varlık Vergisi ("Wealth tax" or "Capital tax") was a Turkish tax levied on the wealthy citizens of Turkey in 1942, with the stated aim of raising funds for the country's ... The bill for the one-off tax was proposed by the Şükrü Saracoğlu government, and the act was adopted by the Turkish parliament on November 11, 1942 ... Officially, the tax was devised to fill the state treasury that would have been needed had Nazi Germany or the Soviet Union invaded the country ...
Vehicle Excise Duty - Other Terms in Common Use
... The terms "car tax", "road tax" and "vehicle tax" are commonly, but incorrectly, used when referring to "Vehicle Excise Duty" ... Road tax has an entry in the Oxford English Dictionary ... object to use of the term 'road tax' since roads are paid for from general taxation, arguing that there is no such thing as a "road tax" ...

Famous quotes containing the word tax:

    But the tax collector, standing far off, would not even look up to heaven, but was beating his breast and saying, ‘God, be merciful to me, a sinner!’
    Bible: New Testament, Luke 18:13.

    Parents are used to being made to feel guilty about...their contribution to the population problem, the school tax burden, and declining test scores. They expect to be blamed by teachers and psychologists, if not by police. And they will be blamed by the children themselves. It is hardy a wonder, then, that they withdraw into what used to be called “permissiveness” but is really neglect.
    C. John Sommerville (20th century)

    I have no doubt that it was a principle they fought for, as much as our ancestors, and not to avoid a three-penny tax on their tea; and the results of this battle will be as important and memorable to those whom it concerns as those of the battle of Bunker Hill, at least.
    Henry David Thoreau (1817–1862)