The word tax taken from the Latin ‘taxo’ which means mandatory monetary fares or several types of levies imposed on taxpayers, taxpayers could be privates or other legal entities. Failure to pay, together with refusal of taxation, could be penalized by law. Tax consists of indirect or direct taxes and 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 or to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of personal annual revenue, but most tax scales are based on annual income. Most countries impose taxes on corporate revenue and dividends. Nations often also impose value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog provides many templates of various categories of taxes declared above, so you could easily do your tax calculations both individual or legal entities.
These templates can also be utilized for students who study about taxes to complete their homework assignments. Also for employees who do institution tax estimates in their regular job. Hope this inspires you all.
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