Tax Law

Tax Law refers to the body of laws and regulations that govern the taxation process within a jurisdiction. It encompasses the rules that determine how taxes are assessed, collected, and enforced by government authorities. Tax law covers various types of taxes, including income tax, corporate tax, property tax, sales tax, and others. It also includes provisions for deductions, credits, exemptions, and the rights of taxpayers as well as the obligations they have to report income and pay taxes. Tax law is crucial for ensuring compliance with tax obligations and is often subject to changes due to new legislation or amendments. Tax lawyers and professionals interpret and apply these laws to assist individuals and businesses in managing their tax liabilities and strategies.