The phrase retribution comes from the Latin ‘taxo’ which means obligatory economy costs or several classifications of levies foisted on taxpayers, taxpayers can be privates or other legal institutions. Failure to pay, together with nonacceptance of taxation, can be punished 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 and to build public facilities that are mutually agreed upon. several levies are a fixed percentage rate of individual annual revenue, but most tax scales are based on annual income. Most countries impose taxes on institution income or dividends. Nations usually also foist value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog provides many templates of various clasification of taxes stated above, so you can easily do your tax estimates both individual or legal institutions.
These templates can also be used for students who learn about taxes to complete their homework assignments. Also for employees who do company tax calculations in their daily job. Hope this helps you all.
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