The phrase retribution taken from the Latin ‘taxo’ which means obligatory economy fees or several types of levies forced on taxpayers, taxpayers can be individuals or other legal institutions. Failure to pay, together with rejection of taxation, could 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 used to pay for public needs or to build public facilities that are mutually agreed upon. several levies are a fixed percentage rate of private annual income, but most tax scales are based on annual income. Most nations foist taxes on institution income or dividends. Nations usually also impose value added taxes, property taxes, salary or tariff taxes, sales taxes.
This website provides many templates of various clasification of taxes mentioned above, so you could easily do your tax estimation both individual and legal institutions.
These templates could also be used for students who study about taxes to complete their homework assignments. Also for workers who do entity tax estimation in their daily job. Hope this helps you all.
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