Learning the procedure and significance of the Taxation laws is crucial for one and all. The reason why we say this is thata country runs by the money payed to the government by the individuals.Hence knowing where exactly your own money is going to is an important and interesting thing.

UNDERSTANDING TAXATION AND TAXATION LAWS

Let’s try to first understand what Taxation Law as a subject of studies is. Taxation Law is a school of law that deals with the norms and regulations related to taxation in a country.Taxes could be imposed on anything by the government and every responsible citizen must pay the taxes.

Here area few common taxes imposed upon the citizen.

· Income tax

· Corporate Tax

· Good and Services tax

· Toll tax

· Tariffs

· Value added tax

· Wealth tax

· Property tax

· Excise duty

· Sales tax

· Consumption tax etc.

Taxation Law helps understand these taxation systems deeply and imposes valid and generally accepted norms and regulations regarding the taxations in a county. Hence it indeed is a very interested career to go for.

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