The phrase tax comes from the Latin ‘taxo’ which means compulsory financial costs or some kinds of levies imposed on taxpayers, taxpayers can be personals or other legal organizations. Failure to pay, together with nonacceptance of taxation, can be punished by law. Tax consists of direct or indirect taxes also could be paid in the form of money or equivalent to labor.
Most nations own a tax system that is utilized to pay for public needs and to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of private annual income, but most tax scales are based on annual income. Most countries foist taxes on institution income or dividends. Countries often also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This website provides many templates of various clasification of taxes mentioned above, so you can easily do your tax estimates both personal and legal organizations.
These templates could also be used for students who study about taxes to complete their homework assignments. Also for employees who do corporate tax estimation in their regular work. Hope this helps you all.
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