The word tax taken from the Latin ‘taxo’ which means compulsory economy costs or some types of levies forced on taxpayers, taxpayers can be personals or other legal institutions. Failure to pay, together with rejection of taxation, can be penalized by law. Tax consists of indirect or direct taxes also could 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 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 revenue. Most countries force taxes on institution income and dividends. Countries usually also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog provides many templates of various clasification of taxes declared above, so you can easily do your tax estimation both individual and legal entities.
These templates could also be utilized for students who learn about taxes to complete their homework assignments. Also for employees who do company tax estimates in their daily work. Hope this helps you all.
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