Review:
Tax Exemptions
overall review score: 4.2
⭐⭐⭐⭐⭐
score is between 0 and 5
Tax-exemptions are privileges granted by the government allowing certain organizations or individuals to be exempt from paying taxes on certain income, property, or transactions.
Key Features
- Reduced tax burden
- Encourages charitable activities
- Promotes economic growth
- Supports specific sectors or activities
Pros
- Promotes philanthropy and social welfare
- Stimulates economic development in targeted areas
- Encourages investment in specific sectors
Cons
- Can lead to tax avoidance or abuse by certain entities
- May create an uneven playing field for businesses
- Can result in loss of government revenue