Investor Presentaiton slide image

Investor Presentaiton

Difference between taxation and internally generated revenue{IGR} Taxation is basically the process of collecting taxes within a particular location. In this regard, we can define tax as "a monetary charge imposed by the Government on persons, entities, chargeable assets; and transactions or properties to yield revenue". It can also be defined as 'the enforced proportional contributions from persons and property, levied by the State by virtue of its sovereignty for the support of Government and for all public needs". *Modern definition of tax A compulsory contribution to state revenue levied by government on workers' income and business profits and added to cost of some goods, services and transactions. ✓Synonyms: levy, tariff, duty, toll, excise, impost, contribution, assessment, tribute, tithe, charge, fee etc.
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