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All taxes can generally be categorized into two main types: direct taxes and indirect taxes. Direct taxes are levied directly on individuals or organizations, such as income tax and property tax, while indirect taxes are imposed on goods and services, like sales tax and value-added tax (VAT). This classification helps in understanding the flow of tax revenue and its impact on the economy. Additionally, taxes can also be further divided based on their purpose, such as progressive, regressive, or proportional taxes.

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1w ago

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