The phrase tax taken from the Latin ‘taxo’ which means compulsory monetary fees or some types of levies forced on taxpayers, taxpayers could be individuals or another legal entities. Failure to pay, together with refusal of taxation, can be penalized by law. Tax consists of indirect or direct taxes also could 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 or to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of private annual income, but most retribution scales are based on annual revenue. Most nations impose taxes on corporate income also dividends. Countries commonly also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This website supplies many templates of various clasification of taxes mentioned above, so you could easily do your tax calculations both personal and legal institutions.
These templates could also be utilized for students who study about taxes to complete their homework assignments. Also for workers who do entity tax estimates in their daily job. Hope this helps you all.
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