The word retribution taken from the Latin ‘taxo’ which means mandatory monetary costs or some categories of levies forced on taxpayers, taxpayers can be privates or another legal institutions. Failure to pay, together with refusal of taxation, can be punished by law. Tax consists of direct or indirect taxes also can be paid in the form of money or equivalent to labor.
Most nations have a tax system that is used to pay for public needs and to construct public facilities that are mutually agreed upon. several levies are a fixed percentage rate of private annual income, but most tax scales are based on annual revenue. Most countries impose taxes on institution revenue and dividends. Nations commonly 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 private or legal entities.
These templates could also be used for students who study about taxes to complete their homework assignments. Also for employees who do corporate tax calculations in their daily job. Hope this helps you all.
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