By ANA DELIA MONTAÑEZ MORALES

A tax is a “compulsory monetary contribution to the state’s revenue, assessed and imposed by a government on the activities, enjoyment, expenditure, income, occupation, privilege, property, etc., of individuals and organizations.” Taxes are used as tools for economic and social policies. Their main purposes are to generate income, encourage or discourage certain types of activities, redistribution of wealth, and economic control. An effective tax system must generate steady stream of government revenue, ensure fairness, be administratively feasible, and neutral…..

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