The phrase tax taken from the Latin ‘taxo’ which means obligatory monetary costs or some categories of levies imposed on taxpayers, taxpayers could be individuals or other legal institutions. Failure to pay, together with declining of taxation, can be penalized by law. Tax consists of direct or indirect taxes also can be paid in the form of money or equivalent to labor.
Most countries own a tax system that is utilized to pay for public needs and to build 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 income. Most countries foist taxes on institution revenue or dividends. Countries often also impose value added taxes, property taxes, salary or tariff taxes, sales taxes.
This site provides many templates of various types of taxes stated above, so you could easily do your tax estimation both personal and legal institutions.
These templates could also be utilized for students who learn about taxes to complete their homework assignments. Also for employees who do institution tax calculations in their regular job. Hope this inspires you all.
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