Taxation

According to Benjamin Franklin, there are two things that one cannot avoid in life, which are death and taxes. Why tax is something that one cannot avoid? 

Bob: If I am not chargeable under income tax, profits tax, property tax, etc., then I am not paying any taxes.

Is the above Bob's argument correct? It may not be true. 

Why? It is because we have different types of tax.

Taxes are charged on different tax rate. There are three common types of tax rate.

This series will focus on taxation. Topic of the following are covered in this series:

1. Wealth tax

2. Importance of taxation