Definition: [ˈfedərəl tæks lɔː] is a combination of jural norms governing the collection of taxes at the national level. As a rule, internal codes take as a basis the points of such declarations. A similar document contains information on the procedure for levying fiscals and the differences between the described process and analogical operations in other countries. Local authorities have the right to offer their own interpretation of legislative items, but the priority remains for federal law. The indicated paper determines the number of material resources to support national defense, educational programs, the sphere of culture and recreation, as well as social welfare.
Federal Tax Law In a Sentence:
- Local authorities are unlikely to violate the federal tax law to please entrepreneurs.
- The federal tax law clearly specifies sanctions for violation of its obligations.
Synonyms and related words: federal fiscal law, federal taxing legislation, national taxation law