Updated 03 Mar. 2019
@peterragland | Posted 02 Mar. 2019
Tax can be defined as a particular sum of money that is charged by the government of a country for various purposes, as the buying of goods and properties, consumption of goods and services of a country and also on a certain level of annual income by the citizens residing in the country. There are various objectives of taxes, the most important being that of raising the revenue of the country. However, taxes have non-revenue purposes as well. They ensure that the economic policy of a country is in proper working order and that there is a balanced distribution of income.