Taxation and Finance Act

The Taxation and Finance Act is a piece of legislation that outlines changes to tax laws and government finances in a country. It typically includes updates on tax rates, new taxes, or adjustments to existing ones to address economic needs. The Act aims to ensure that the government can fund public services and maintain fiscal stability. It is usually presented annually, reflecting the government's financial strategies and priorities, impacting individuals, businesses, and public expenditures. Understanding this Act helps citizens know how tax policies may affect their finances and the overall economy.