Personal Taxation

Personal taxation is the system by which governments collect money from individuals based on their income, earnings, or other financial activities. It funds public services like healthcare, education, and infrastructure. Individuals are required to report their income annually and pay a percentage of it in taxes, which varies depending on income levels and tax laws. These taxes can include income tax, property tax, or other specific levies. The goal is to generate revenue fairly, supporting the needs of society while accounting for individual ability to pay.