Income tax is a direct tax levied on the income of individuals and corporations.

GST is a comprehensive indirect tax levied on the supply of goods and services.

Customs duty is a tax levied on goods imported or exported into or out of a country.

Excise duty is a tax levied on the production of certain goods.

Sales tax is a tax levied on the sale of goods and services.

Progressive taxation is designed to reduce income inequality by taxing higher-income individuals at a higher rate than lower-income individuals.

A regressive tax is a tax that places a greater burden on lower-income individuals than on higher-income individuals. Sales tax is an example of a regressive tax.

Direct taxes are levied directly on the income of individuals and corporations, while indirect taxes are levied on the sale of goods and services.

A tax deduction is a reduction in the amount of taxable income, while a tax credit is a direct reduction in the amount of tax owed.

A tax bracket is a range of income levels subject to a specific tax rate.

Non-profit organizations, religious organizations, and educational institutions are all examples of tax-exempt organizations.

A tax treaty is an agreement between two countries that prevents double taxation, which occurs when the same income is taxed in both countries.

A tax haven is a country with low tax rates that attracts businesses and individuals seeking to reduce their tax liability.

A tax audit is a review of a taxpayer's tax return to verify its accuracy, determine if the taxpayer owes additional taxes, and identify tax fraud.

Interest on unpaid taxes, fines, and imprisonment are all examples of tax penalties.