The phrase retribution taken from the Latin ‘taxo’ which means compulsory economy fares or several categories of levies foisted on taxpayers, taxpayers could be personals or other legal institutions. Failure to pay, together with nonacceptance of taxation, can be penalized by law. Tax consists of indirect or direct taxes and could be paid in the form of money or equivalent to labor.
Most countries have a tax system that is used to pay for public needs or to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of private annual revenue, but most retribution scales are based on annual income. Most nations force taxes on corporate income also dividends. Countries generally also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This website provides many templates of various clasification of taxes stated above, so you can easily do your tax calculations both individual and legal entities.
These templates can also be used for students who study about taxes to complete their homework assignments. Also for employees who do institution tax estimation in their regular work. Hope this inspires you all.
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