As we know, the government imposes some tax on all goods. Every company that manufactures it's product has to pay those taxes periodically. This branch of accounting focuses on the tax returns and payments. It is also very important for checking the legitimacy of the company. Taxation accounting helps the organization to organize their finances very constructively. In this way the managers are well informed about the company's finances and are able to record the amount of tax they are paying to the government. This type of accounting can be useful to individuals, business groups, organizations etc.
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