Law & Tax

What is Tax?

The purpose of taxation is to produce revenue for the government. Some economists define taxes as a price that must be paid because of an activity that benefits the recipient or society in general. Others define it as taking something without giving back in return. Definitions have included:

1) Taking property away from people involuntarily. 2) A sum of money demanded by a government for its support, etc.; tribute; ground rent; duty; excise 3) Compulsory payments made to the public authorities by private individuals and corporations) The total assessed value of the property, or income of individuals subject to taxation by a state.

What is Law?

Black’s Law Dictionary defines law as: “That which is laid down or established; a rule of action; statute; ordinance”. Black’s continues: “The term is technically applied only to that which has been promulgated by some sovereign authority and hence technically does not include the natural law (e.g., murder and theft are contrary to the laws of nature, but positive enactments are necessary before they can be offenses against the state)”. Black also states: “It must always be remembered that in popular use ‘law’ and ‘statute’ are synonymous terms”.

Law originates from the legal system of England with its common-law roots, but it knows no borders.

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