Gross Amount refers to the total amount before any deductions or subtractions are made. It is often compared to the net amount, which results after all deductions.
Revenue refers to the total income generated from normal business operations and includes discounts and deductions for returned merchandise. It is a crucial metric indicating the financial performance of an organization.
A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. Failure to pay, along with evasion of or resistance to taxation, is punishable by law.
