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Tax Preparation
Taxation is a
system of raising money to finance government services and activities.
Governments at all levels--local, provincial, and national--require people and
businesses to pay taxes. Governments use the tax revenues to pay the cost of
police and fire protection, health programmes, schools, roads, national defence,
and many other public services. Direct taxes are levied (charged) on the incomes
or wealth of individuals or companies. Indirect taxes are levied on money spent
by individuals or companies.
Taxes are as old as government. The general level of taxes has varied over the
years, depending on the role of the government. In modern times, many
governments--especially in advanced industrial countries--have rapidly expanded
their roles and taken on new responsibilities. As a result, their need for tax
revenue has increased.
Around the world, people have frequently protested against tax increases. In
these situations, taxpayers have favoured keeping services at current levels or
reducing them. Voters have defeated many proposals for tax increases by
provincial and local governments. |
