4.2.3 Taxation
Topic 4.2.3 Taxation This section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand the following: Reasons for taxation Taxes are compulsory payments made to the government by individuals and firms. They are levied on income, wealth, profits, and expenditure on goods and services. For individuals, income after tax is known as disposable income, i.e., the amount available to spend or...