Taxes are monetary obligations that citizens and businesses pay to the government to finance public services such as schools, hospitals and infrastructure. Taxes are the largest source of government revenue. They are collected in various ways, including direct payroll deductions or tax returns. The collected taxes are used to finance public needs and projects that benefit society. It is important to understand taxes because they help us understand how the public sector is financed and how our money contributes to social change and development. You can find out everything, including other interesting facts about taxes, in the video above!
