Taxes are levied by governments on their citizens to generate income for undertaking projects to boost the economy of the country and to raise the standard of living of its citizens. There are two main categories of taxes, which are further sub-divided into other categories. The two major categories are • Direct tax – Tax that are to be paid directly to the government by the individual or legal entity. For ex. Income Tax • Indirect tax – Collected by the provider of goods or service from the consumer on behalf of the government. For Ex. Goods and Service Tax, Property Tax, Professional Tax, Etc.