The phrase tax comes from the Latin ‘taxo’ which means compulsory financial fares or several types of levies forced on taxpayers, taxpayers can be individuals or other legal institutions. Failure to pay, together with declining of taxation, could be penalized by law. Tax consists of direct or indirect taxes and could be paid in the form of money or equivalent to labor.
Most countries have a tax system that is used to pay for public needs also to construct public facilities that are mutually agreed upon. several levies are a fixed percentage rate of private annual revenue, but most tax scales are based on annual income. Most nations foist taxes on institution revenue and dividends. Countries often also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog supplies many templates of various categories of taxes stated above, so you could easily do your tax estimation both personal and legal institutions.
These templates could also be used for students who learn about taxes to complete their homework assignments. Also for employees who do corporate tax estimation in their regular job. Hope this helps you all.
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