The phrase tax comes from the Latin ‘taxo’ which means mandatory economy costs or several classifications of levies imposed on taxpayers, taxpayers could be privates or another legal organizations. Failure to pay, together with refusal of taxation, could be penalized by law. Tax consists of direct or indirect taxes or can be paid in the form of money or equivalent to labor.
Most countries own a tax system that is utilized to pay for public needs also to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of individual annual income, but most retribution scales are based on annual revenue. Most countries force taxes on corporate income or dividends. Countries usually also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog provides many templates of various clasification of taxes mentioned above, so you can easily do your tax calculations both personal or legal institutions.
These templates can also be utilized for students who learn about taxes to complete their homework assignments. Also for workers who do entity tax estimation in their daily job. Hope this inspires you all.
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