What are the objectives of taxation?

Answer

Taxation is the levying of tax and money paid as a tax. A tax is a financial charge or other levy imposed on taxpayers by a state or equivalent of a state. It can be a payment exacted by legislative authority. The main objective of taxation is to raise money or revenue for the State or to finance government expenditure. Taxation also helps with regulatory objectives and developmental objectives in economic development. Taxation is used as a means of redistribution of wealth.
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