Do You Understand Tax?

[Nomad]

Every country has its own tax system, for instance, in the US there are 5 types of taxes,
federal, sales, property, capital gains, and real estate tax. If you want to have financial health, you need to understand taxes in your country. The system is built for the average taxpayer to keep payments flowing, so that governmentoperates smoothly. How well do you understand each tax type? Which one impacts your finances the most, and why?

 

[Fidelia]

I have a tax accountant and attorney that help my business with those tax issues. I don't understand anything about taxes.

 

[Augusta]

Yes I know tax to be a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and responsibilities. We must all pay tax

 

[Alberello75]

Every country has its own tax system, for instance, in the US there are 5 types of taxes,
federal, sales, property, capital gains, and real estate tax. If you want to have financial health, you need to understand taxes in your country. The system is built for the average taxpayer to keep payments flowing, so that governmentoperates smoothly. How well do you understand each tax type? Which one impacts your finances the most, and why?

If there's a country in the European Union with the highest taxes, it's undoubtedly Italy, where I "unfortunately" live. The most hated tax, or rather TAX, to be paid here is called IVA that's the Italian acronym by "Imposta sul valore aggiunto" (Value Added Tax) equal to 22% on most of the goods we buy.