Taxology refers to the study of taxes and taxation. The term can be used interchangeably with other synonyms such as taxonomics, fiscal studies, and fiscal analysis. Taxonomy is a system of classification, just like how taxology is a classification of taxes. Other synonyms include taxonomic classification, taxonomic analysis, and taxonomic categorization. Taxation is an important aspect of any economy, and the study of taxes has become increasingly significant in recent times. Therefore, taxology and its synonyms are essential tools for policymakers, economists, and researchers in understanding and improving tax systems. Whatever the term used, the importance of studying taxation in any economy cannot be overemphasized.