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Excise Tax: This kind of taxation is levied for non-basic and luxurious items including fuel, tobacco, and Liquor that happen to be non-fundamental merchandise. This form of taxation is geared toward discouraging The buyer from paying for and consuming these merchandise.
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Income tax: Profits tax is actually a type of tax levied on all citizens who deliver cash flow from work or that site organization. This form of taxation requires for individuals and Business to report annual revenue on which they pay back a fixed tax amount.
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