The income tax or income tax is a tax that is applied on the income received by people, companies or any legal entity as a means of state collection.
Among the various taxes that regulate the normal functioning of the world's companies, is the very commonly known income or profit tax. This tax has the purpose of concentrating a variable proportion of the income and profits obtained by persons and legal entities subject to the payment of taxes. Normally, according to the type of activity and the total sum of the profits, the tax authorities usually calculate a percentage (often variable) of money that the person involved must pay the government or the corresponding entity for each certain economic stipend received.
Taxes on earnings are different. For example, it may be a progressive tribute, when the percentage increases according to the increase in the income of the person or institution. The flat tax it is a constant tribute that does not vary according to the conditions of each moment. The regressiveOn the other hand, it is that tax that, as the income of the person decreases, it is also reduced, trying to have a lesser impact on the individual's economy.
Although it is a highly publicized tax throughout the world, this does not mean that it has generated less controversy among those classified as liable to receive the collection of this tax. For example, many celebrities and millionaires at the international level must pay exorbitant additions in terms of income taxes and, therefore, it is known that sometimes they allocate part of their fortunes to solidarity or charitable works so that the tribute received is lower . In turn, individuals and companies around the world can choose not to declare the earnings received and operate outside the legal framework.
