The word tax taken from the Latin ‘taxo’ which means mandatory economy costs or several types of levies imposed on taxpayers, taxpayers could be individuals or another legal entities. Failure to pay, together with nonacceptance of taxation, could be penalized by law. Tax consists of direct or indirect taxes or 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 also to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of individual annual revenue, but most retribution scales are based on annual income. Most nations force taxes on corporate revenue or dividends. Nations frequently also impose value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog provides many templates of various clasification of taxes declared above, so you could easily do your tax estimation both private or legal organizations.
These templates can also be used 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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