The phrase tax comes from the Latin ‘taxo’ which means compulsory economy costs or several categories of levies foisted on taxpayers, taxpayers can be individuals or other legal institutions. Failure to pay, together with rejection of taxation, could be penalized by law. Tax consists of indirect or direct taxes and can be paid in the form of money or equivalent to labor.
Most countries have a tax system that is utilized to pay for public needs or to construct public facilities that are mutually agreed upon. several levies are a fixed percentage rate of individual annual revenue, but most retribution scales are based on annual revenue. Most nations push taxes on corporate income and dividends. Countries generally also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This site supplies many templates of various categories of taxes mentioned above, so you can easily do your tax estimates both personal and legal institutions.
These templates can also be utilized for students who learn about taxes to complete their homework assignments. Also for employees who do corporate tax estimation in their daily work. Hope this inspires you all.
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