Bills

In order for the government to provide necessary products and services for society, known as public goods, it requires financial resources. Considering that these goods and services are intended for the general population, such as infrastructure development, social programs, and national security, they come with significant costs. Taxes serve as a major source of revenue collection for the government. A tax is a mandatory and unconditional monetary contribution that individuals are required to pay based on the non-equivalent and non-gratuitous nature of the payment. Whether you engage in an activity subject to taxation or purchase a product that includes taxes in its price due to the production or marketing process, you are obligated to pay taxes regardless of personal choice. This discussion will focus on the essence of taxes and their impact on your financial situation.