Taxes

Taxes are compulsory charges or some type of levy imposed upon a taxpayer by a government organization in order to fund various public expenditures. In economics, taxes fall on whoever pays the burden of the tax, whether this is the entity being taxed, such as a business, or the end consumers of the business's goods. Tax systems vary widely among nations, and it is important for individuals and corporations to carefully study a new locale's tax laws before earning income or doing business there.