Tax Legislation

Tax legislation refers to laws enacted by governments to regulate how individuals and businesses pay taxes. It outlines different tax types, such as income, sales, and property taxes, along with rates and exemptions. These laws determine who pays taxes, how much they owe, and deadlines for payment. Tax legislation is crucial for funding public services like education, healthcare, and infrastructure. It can change frequently, influenced by economic conditions and policy decisions, and understanding it helps individuals and businesses comply with their tax obligations and plan their finances effectively.