Tax Policy

Tax policy, in the context of the Department of Treasury, refers to the government's approach to collecting taxes and managing taxation systems. It involves setting rates, determining what is taxable, and deciding how tax revenues will be used to fund public services and programs. The Treasury develops policies to ensure fairness, promote economic growth, and maintain fiscal responsibility. Essentially, tax policy shapes how much individuals and businesses pay in taxes and influences overall economic health, impacting everything from employment to public infrastructure.