In this week’s finance lesson, students learned about taxes — what they are, who pays them, and how they are used in our community.
Children discovered that everyone who earns money or buys goods and services contributes to taxes, including workers and businesses. They explored where tax money goes, such as funding for schools, hospitals, emergency services, public transport, and road maintenance — all things that help our society run smoothly.
They also learned about VAT (Value Added Tax) and identified everyday items that include VAT, such as clothes, electronics, and restaurant meals.
