The most important tax rate for determining an individual's incentive to work is the margnal tax rate.
Tax refers to the compulsory financial charge or levies on an individual or entities by governments in almost every country of the world.
Tax is a tariff or duty that is the revenue of the government which is levied by it on the income of the workers, business profits, and also added to goods and sevices.
A tax rate is the rate or a percentage at which an individual or corporation is taxed. Basically, there are two types direct taxes and indirect taxes.
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