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Taxes

Sales tax

As a knowledgeable professor of finance, it is important to understand the concept of sales tax as a crucial aspect of our financial system. This tax is imposed as a percentage of the price of goods and occasionally services. While the buyer is responsible for paying the tax, it is the duty of the seller to collect and remit it to the tax authorities. This tax plays a significant role in generating revenue for the government and ensuring fair distribution of resources.
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