WORLD HISTORY

Detailed explanation-1: -Key Takeaways. Taxation occurs when a government or other authority requires that a fee be paid by citizens and corporations, to that authority. The fee is involuntary, and as opposed to other payments, not linked to any specific services that have been or will be provided.

Detailed explanation-2: -Taxes are used by the government for carrying out various welfare schemes including employment programmes. There are Lakhs of employees in various departments and the administrative cost has to be borne by the Government.

Detailed explanation-3: -’Public revenue’ (or Government revenue) is concerned with the Income of the Government through various sources. The Government collects/earns money through various forms of tax and non-tax revenue, and use this money to meet its administrative and other expenditures.

Detailed explanation-4: -A portion of taxes may be used to service past debts. Governments also use taxes to fund welfare and public services. These services can include education systems, pensions for the elderly, unemployment benefits, and public transportation.

Detailed explanation-5: -Types of Taxes You pay some of them directly, like the cringed income tax, corporate tax, wealth tax, etc., while you pay some of the taxes indirectly, like sales tax, service tax, value added tax, etc.