what is Tax ?
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Tax is a mandatory financial contribution imposed by the government on individuals, businesses, and other entities to fund public expenditures and services. It’s like a portion of our income or the price of goods and services that we pay to the government. Taxes can be levied on various sources, such as income, property, sales, and profits. The government uses tax revenue to support infrastructure, healthcare, education, defense, and other public services that benefit society as a whole.