TAXATION BUSINESS AND INDIVIDUAL

**Taxation for Businesses** refers to the legal process by which governments impose financial charges or taxes on businesses' income, profits, sales, and other activities. Businesses must comply with tax laws by filing returns, paying corporate income tax, sales tax, payroll taxes, and other industry-specific taxes. Proper tax planning and compliance help businesses avoid penalties and optimize their tax liabilities. **Taxation for Individuals** refers to the system where individuals are required to pay taxes on their income, property, and other personal financial activities. This includes income tax, capital gains tax, and other personal taxes. Individuals must file annual tax returns, report their income, and pay any taxes owed based on their earnings and eligible deductions. The tax rates and obligations can vary depending on the individual's income level, location, and applicable tax laws.