Change in tax = 2390 - 2102
= 288
Percentage change = 288/2102*100
= 13.70
A sum of money that a government mandates citizens pay in relation to their income, the value of their property, etc. and is used to fund the government's activities.
A tax is a mandatory fee or financial charge that any government imposes on a person or a business in order to raise money for public projects that fund the best facilities and infrastructure. Different public expenditure programmes are then funded with the money raised.
Examples include general and targeted sales taxes, value-added taxes (VAT), taxes on any aspect of production or manufacturing, taxes on legal transactions, and customs or import duties. A sizable portion of consumer spending is subject to general sales taxes.
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