Instead you should focus on developing a broad understanding of how the us tax system works after defining a tax and providing some background information on the income tax this chapter introduces those taxable persons that pay income taxes individuals c corporations and fiduciaries. Taxation imposition of compulsory levies on individuals or entities by governments taxes are levied in almost every country of the world primarily to raise revenue for government expenditures although they serve other purposes as well. Topic 1 introduction to taxation tutorial questions resident tax rates 2019 20taxable incometax on this income0 18200nil18201 3700019c for each 1 over 1820037001 900003572 plus 325c for each 1 over 3700090001 18000020797 plus 37c for eachread more
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