posted a year ago
Business law is the area of law that deals with the formation and operation of businesses. It covers various legal topics, including contracts, company formation, employment law, intellectual property, and product liability. Taxation is the process by which the government levies taxes on individuals and businesses. Taxation aims to raise revenue to fund public services and programs. The types of taxes levied include income tax, corporation tax, and value-added tax (VAT). Businesses must comply with both national and local taxation laws.