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In modern economies, taxes are the most important source of governmental revenue. However, taxation is not a governments only source of revenue. Taxes differ from other sources of revenue in that they are compulsory levies and are unrequited (except payroll taxes)i.e., they are generally not paid in exchange for some specific thing. This aspect of Taxation Definition Purpose Importance Types Britannica plays a vital role in practical applications.

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• Taxation Definition, Purpose, Importance, Types - Income, Property ...

Final Thoughts on Taxation Definition Purpose Importance Types Britannica

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