The phrase tax taken from the Latin ‘taxo’ which means compulsory economy fares or some classifications of levies imposed on taxpayers, taxpayers can be privates or other legal institutions. 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 countries have a tax system that is used to pay for public needs also to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of individual annual revenue, but most tax scales are based on annual income. Most nations force taxes on corporate revenue also dividends. Nations commonly also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This site provides many templates of various categories of taxes stated above, so you can easily do your tax calculations both private or legal institutions.
These templates could also be utilized for students who learn about taxes to complete their homework assignments. Also for employees who do corporate tax estimation in their regular work. Hope this inspires you all.
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