Individual taxes refer to the taxes that individuals are required to pay on their income. These taxes are based on a progressive tax system.
In the United States, for example, individual taxes are paid to the Internal Revenue Service (IRS) and are calculated based on the individual's taxable income.
Different from Business Taxes, which refer to the taxes that businesses are required to pay on their income and profits. These taxes are based on the type of business structure and the country's tax laws.
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