What is tax?

  • (verb): Levy a tax on.
    Example: "The State taxes alcohol heavily"; "Clothing is not taxed in our state"
    See also — Additional definitions below

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).

Read more about Tax.

Some articles on 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 ... for a good, 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 ... Some economists sought to integrate optimal tax theory with the social welfare function, which is the economic expression of the idea that equality is valuable to a greater or lesser extent ...
Vehicle Excise Duty - Current Regulations
... display a non-transferable vehicle licence ("tax disc") ... 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 ...
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 ... publications 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" ...
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 ... himself, a 5% across-the-board cut for all agencies and ministries, tax increases on beer, cigarettes and fuel, and an extension of the 18% sales and value-adde ...
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 ...

More definitions of "tax":

  • (verb): Use to the limit.
    Synonyms: task
  • (noun): Charge against a citizen's person or property or activity for the support of government.
    Synonyms: taxation, revenue enhancement
  • (verb): Make a charge against or accuse.
    Example: "They taxed him failure to appear in court"
  • (verb): Set or determine the amount of (a payment such as a fine).
    Synonyms: assess

Famous quotes containing the word tax:

    Change of fashion is the tax levied by the industry of the poor on the vanity of the rich.
    —Sébastien-Roch Nicolas De Chamfort (1741–1794)

    Rumble thy bellyful! Spit, fire! Spout, rain!
    Nor rain, wind, thunder, fire are my daughters.
    I tax you not, you elements, with unkindness;
    I never gave you kingdom, called you children.
    William Shakespeare (1564–1616)

    To tax and to please, no more than to love and to be wise, is not given to men.
    Edmund Burke (1729–1797)