taxation systems

Taxation systems are frameworks through which governments collect money from individuals and businesses to fund public services and infrastructure, such as education, roads, and healthcare. They vary by country and can include different types of taxes, such as income tax (a percentage of earnings), sales tax (on goods and services), and property tax (on owned real estate). Taxes can be progressive, meaning higher incomes pay a larger percentage, or regressive, where lower income brackets pay a higher percentage. Each system aims to balance funding needs with promoting economic growth and fairness among citizens.