{ "content": "

Taxation<\/a><\/h1>

Taxation<\/a> is a compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. The study of Taxation<\/a> is a core component of Public-Finance<\/a> and Macroeconomics<\/a>. Historically, systems of Taxation<\/a> have existed since Ancient-Egypt<\/a>, where the pharaohs collected a portion of the harvest.<\/p>

Economic Principles<\/h2>

Economists such as Adam-Smith<\/a> have long debated the most efficient ways to collect revenue. In his seminal work, The-Wealth-of-Nations<\/a>, he proposed four 'canons' of Taxation<\/a>. These principles are still referenced by modern global bodies like the OECD<\/a> and the International-Monetary-Fund<\/a> to guide Fiscal-Policy<\/a>. Effective tax collection is also a focus of the World-Bank<\/a> for developing nations.<\/p>

Common Tax Categories<\/h2>

Most modern economies rely on a mix of the following:<\/p>