About tax procedure and practice

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A tax procedure and practice is a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state to fund various public expenditures. A failure to pay, or evasion of or resistance to tax procedure and practice, is usually punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent. Most countries have a tax system in place to pay for public/common/agreed national needs and government functions: some levy a flat percentage rate of tax procedure and practice on personal annual income, some on a scale based on annual income amounts, and some countries impose almost no tax procedure and practice at all, or a very low tax rate for a certain area of tax procedure and practice. Some countries also charge a tax on corporate income, dividends, or distributions—this is often referred to as double tax procedure and practice as the individual shareholder(s) receiving this payment from the company will also be levied some tax on that personal income.