The phrase retribution comes from the Latin ‘taxo’ which means obligatory financial fares or some classifications of levies foisted on taxpayers, taxpayers can be personals or other legal institutions. Failure to pay, together with refusal of taxation, can be punished by law. Tax consists of direct or indirect taxes and 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 or 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 revenue. Most nations foist taxes on institution income and dividends. Nations often also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This site provides many templates of various clasification of taxes mentioned above, so you could easily do your tax estimates both personal and legal institutions.
These templates can also be used for students who learn about taxes to complete their homework assignments. Also for employees who do entity tax estimation in their daily job. Hope this inspires you all.
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