PERSONAL INCOME TAX AND SOCIAL TAX: CONTENT, ESSENCE AND ROLE IN THE ECONOMY

Abstract

This article explores the concepts of personal income tax and social tax, delving into their definitions, characteristics, and significance in the economy. Personal income tax is a progressive tax levied on individuals' earnings, aiming to generate government revenue while promoting equity in wealth distribution. Social tax, on the other hand, is designed to fund social security systems and welfare programs, ensuring financial support for citizens in need. The article analyzes how these taxes influence individual behavior, consumer spending, and overall economic growth. By examining the interplay between personal income tax and social tax, the article highlights their roles in shaping fiscal policy and contributing to social welfare