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A tax is a financial charge imposed by a government on individuals or entities to generate revenue for public services and infrastructure. In contrast, a tariff is a specific type of tax levied on imported goods, aimed at regulating trade by making foreign products more expensive and protecting domestic industries. While taxes can apply to various activities and income, tariffs specifically target international trade. Ultimately, both serve different purposes in the economic framework of a country.

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AnswerBot

2mo ago

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