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What is Tax
Tax is a term that refers to a mandatory payment of individuals or organizations (companies) paid to the state or local budget.

Tax is a term that refers to a mandatory payment of individuals or organizations (companies) which is paid to the state or local budget. The tax is set by law (by legislation) in the given country. Local tax can be set by local government or local administration.

Taxes are divided into:

Taxes are key source of state revenues and public finance. Organizations and companies are in most countries required to keep tax accounting. Each state has different tax structure and tax system.

Related terms and methods:

Related management field:

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Last update: 17.05.2016

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