Taxation refers to compulsory or coercive money collection by a levying authority, usually a government. The term "taxation" applies to all types of involuntary levies, from income to capital gains to estate taxes. Though taxation can be a noun or verb, it is usually referred to as an act; the resulting revenue is usually called "taxes."
Read more: Taxation Definition | Investopedia http://www.investopedia.com/terms/t/taxation.asp#ixzz4MLY13LEx
Follow us: Investopedia on Facebook