The phrase tax originally from the Latin ‘taxo’ which means mandatory financial costs or several kinds of levies imposed on taxpayers, taxpayers can be personals or another legal institutions. Failure to pay, together with nonacceptance of taxation, can be penalized by law. Tax consists of direct or indirect 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. several levies are a fixed percentage rate of individual annual income, but most tax scales are based on annual income. Most countries push taxes on institution revenue and dividends. Countries usually also impose value added taxes, property taxes, salary or tariff taxes, sales taxes.
This website supplies many templates of various clasification of taxes mentioned above, so you could 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 entity tax estimation in their regular job. Hope this inspires you all.
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