What is tax?
Do you know what the money that the govt collects is meant to be used for?
As children, and as students, you don’t have to pay tax. But adults and companies have to pay tax to the government. Sometimes we pay tax without even realizing. There is a sales tax on the goods we buy. If your top was N800, the government may put a sales tax on it of N50. SO the seller will sell to you for N850.Taxes are used for constructing and maintaining roads, looking after parks, public school education, hiring policemen and women and so much more
Then there is income tax – when you work and earn money, your employer has to send a portion of your salary to the govt.
But what is tax?
It Is money that you have to pay to the government. In fact, it is illegal to refuse to pay your taxes. The government uses this money to make your community a better community to live in.