Summary, Glossary

Government and Taxes

SUMMARY

• Direct Tax is a tax paid directly to the Union government or to state or local governments, such as income tax and property tax.

• Income Tax is a tax paid by individuals and businesses based on earned and unearned income.

• Local Tax is a tax charged by a local government, such as a city or country

Glossary

Levied: To impose taxes வரி (விதிக்கப்பட்ட)

Fluctuation: To change ஏற்ற இறக்கம்

Defray: Meet the expenses செலவை ஈடுகட்ட

Proponents: Person who advocates theory கொள்கை மொழிவோர்

Progressive Tax: Happening or developing gradually or in stages வளர்வீத வரி

Regressive Tax: Taking a proportionally greater amount from those on lower incomes. குறைவுவீத வரி

Proportionate Tax: (of a variable quantity) having a constant ratio to another quantity. ஒரேவீத வரி

Evasion : The action of evading something ஏய்ப்பு