Tax Code

The Tax Code is a set of laws and regulations established by a government that outlines how taxes are calculated, collected, and enforced. It specifies who has to pay taxes, what types of income are taxable, what deductions and credits are available, and the rates at which different income levels are taxed. Essentially, the Tax Code serves as the framework for the taxation system, guiding both individuals and businesses in understanding their tax obligations. It is complex and often updated to reflect changes in policy, economy, and social goals.