The financial year ends in different countries at different times. The end of the tax year is in April in the United Kingdom, for instance, and at the end of the year in Spain. Tax payers are often required to file a tax return to verify if they have paid too much or too little income tax and in accordance they have to either give the government more money (if they haven’t paid enough income tax ) or the government gives them back money (if they paid too much income tax).
In Spain, although the financial year finishes at the end of a calendar year, taxpayers are not required to file their tax return until the end of June the following year. Right now many of us living in Spain are frantically trying to put all their papers together and complete their tax return.
But where does all this taxing come from in the first place?
The word tax originated from the Greek tassein, which means to fix, and from the latin taxare, which means to charge or censure. Back in the days of the Roman and Greek empires people paid their taxes not only in money but in crops and animals too. In the United States only the rich were taxed originally, but the government needed more money and started taxing everyone. Watch the video to find out why.
Take a Look at the joke and quote below and decide if you will laugh or cry when filing your tax return.
“The Government says we should be proud to be paying taxes. I think I could be just as proud for about a third of the money.”
“The democracy will cease to exist when you take away from those who are willing to work and give to those who would not. To compel a man to furnish funds for the propagation of ideas he disbelieves and abhors is sinful and tyrannical.” Thomas Jefferson