Category: Taxation Law

Taxation Law refers to the body of laws and regulations governing the collection and assessment of taxes by government authorities. It encompasses the rules under which taxes are levied on individuals and businesses, including income tax, sales tax, property tax, and various other tax obligations. Taxation law outlines the legal framework for determining tax liability, compliance requirements, the rights and obligations of taxpayers, and the enforcement actions that tax authorities can take. This area of law also covers tax planning, deductions, credits, and the procedures for resolving disputes between taxpayers and tax authorities. It plays a crucial role in the economic framework of a society, impacting public policy, government funding, and individual financial decisions.