tax revenue

Tax revenue is the money collected by governments from individuals and businesses through various taxes, such as income tax, sales tax, and property tax. This revenue is essential for funding public services like education, healthcare, infrastructure, and national defense. Essentially, it enables governments to operate and provide services that benefit society. The government determines tax rates and policies based on economic conditions and public needs, aiming to balance fairness with the necessity of generating sufficient funds to support programs and maintain public welfare.