The phrase tax taken from the Latin ‘taxo’ which means compulsory monetary fees or some categories of levies forced on taxpayers, taxpayers can be individuals or other legal entities. Failure to pay, together with rejection of taxation, can be punished by law. Tax consists of direct or indirect 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 also to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of personal annual income, but most retribution scales are based on annual revenue. Most countries push taxes on corporate revenue also dividends. Nations often also foist value added taxes, property taxes, salary or tariff taxes, sales taxes.
This site supplies many templates of various categories of taxes stated above, so you could easily do your tax calculations both private or legal entities.
These templates could also be utilized for students who learn about taxes to complete their homework assignments. Also for employees who do institution tax estimates in their regular job. Hope this helps you all.
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