Question

What do you understand by the term ‘Tax’?​

Answer 1

Answer:

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Explanation:

A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Answer 2

Answer:

A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organisation in order to fund government spending and various public expenditures.A failure to pay,along with evasion of or resistance to taxation, punishable by law.