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More about USA Taxation Finance
Tax is a compulsion of assessment which is made by the government or other qualified bodies in order to obtain funds for the public expenditures. Purposes of Taxation are
• It is used for collecting revenues or funds for public needs or public expenditures.
• To obtain stabilize prices and obtain greater production.
There are various types of taxes – Income tax, Donor’s Tax, Estate Tax, Value-added Tax and Capital gain Tax.
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