Income tax is defined as jurisdictions tax where the individual income along with business entities.
It consists of corporations.
There are authorities where tax has been imposed over net profits from the business.
It is calculated over net gains along with different income.
In the field of economics, the negative income tax has been progressive income tax system.
Here people earn below the particular amount.
They get extra payment from government rather than paying government taxes.
The wealth tax has been levy over total value on personal assets.
It consists of real estate and bank deposits.
There are pension plans and assets in insurance.
There has been unincorporated business ownership.
There are personal trusts and financial securities.
The value-added tax has been identified as Goods and Services Tax.
It is also known as Single Business Tax.
Another name is Turnover Tax for certain countries.
There is an equivalent of sales tax in each operation.
It is responsible for value creation.
Sales taxes has been levied while selling the commodity to the last consumer.
The organizations on retail had taxes which discourage the sales in retail sector.
The import tariff has been identified as the customs duty.
It has been charge for goods movement along political border.
A poll tax has been known per capita tax.
It is also known as capitation tax.
This represents the tax where a particular amount has been levied as per individual.
This is an instance of the fixed tax.