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Levy and tax are both financial obligations imposed by the government, but they differ in their nature and purpose. A levy is a specific charge or fee imposed on individuals or entities for a particular purpose, such as a levy on imported goods or a levy on certain industries.
Some levy a fee every time you spend, either a percentage of the amount or a flat fee per transaction.
Duty typically refers to a tax or fee that is imposed on goods or services when they are imported or exported. It is often used to protect domestic industries and regulate international trade. On the other hand, a levy is a tax or fee that is imposed on individuals or businesses for various purposes, such as funding government programs or services.
1 wrz 2023 · A levy is a mandatory fee or tax that a government or authority imposes to support public services and projects. Learn about the different types of levies, how they are collected and allocated, and their pros and cons for communities.
verb [ T ] uk / ˈlev.i / us / ˈlev.i /. (of a government or organization) to demand an amount of money, such as a tax, from a person or organization: A new tax was levied on consumers of luxury goods. The City Council can levy a fine of $250 for a first offence. More examples.
A levy is a sum of money that you have to pay, for example as a tax to the government. ...an annual motorway levy on all drivers. [+ on] Synonyms: tax, fee, toll, tariff More Synonyms of levy. 2.verb. If a government or organization levies a tax or other sum of money, it demands it from people or organizations.
12 mar 2022 · In simple words ‘tax’ is a common burden for raising revenue and upon collection becomes part of public revenue of the State. Levy. A levy is defined as a temporary, measure to raise...
