The phrase tax comes from the Latin ‘taxo’ which means compulsory monetary fees or some categories of levies forced on taxpayers, taxpayers can be individuals or another legal organizations. Failure to pay, together with refusal of taxation, could be punished by law. Tax consists of direct or indirect taxes or can be paid in the form of money or equivalent to labor.
Most nations have a tax system that is utilized to pay for public needs or 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 income. Most nations foist taxes on corporate income also dividends. Nations usually also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This website provides many templates of various clasification of taxes mentioned above, so you could 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 company tax calculations in their daily job. Hope this inspires you all.
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