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Tax is a mandatory payment or a financial charge levied on an individual or entity by a government to fund public services and programs such as education, healthcare, infrastructure, and social security. Taxes can be collected in various forms, including income tax, property tax, sales tax, and value-added tax. The amount of tax payable by an individual or business is determined by their income, assets, and other financial activities. Non-payment of tax can result in legal penalties and prosecution by tax authorities.
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