Taxation legislation

Taxation legislation refers to the laws and regulations established by government bodies that govern how taxes are imposed, collected, and managed. This includes income taxes, sales taxes, property taxes, and others, outlining who is liable to pay, how much, and when. The legislation also specifies tax rates, exemptions, deductions, and compliance requirements. Understanding taxation legislation is crucial for individuals and businesses as it affects financial planning and obligations. The aim is to fund public services and infrastructure while promoting fairness and economic growth.