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Taxes are compulsory financial charges imposed by the government to generate revenue for public expenditure. Based on how they are levied and who ultimately bears the burden, taxes are broadly classified into direct and indirect taxes. Direct taxes are those levied directly on individuals or organizations. The liability to pay the tax and the burden of the tax fall on the same person. ______ ______ _______ ___ ___ _____ _______ _______ ________ ________.
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