The phrase tax originally from the Latin ‘taxo’ which means obligatory economy costs or some categories of levies foisted on taxpayers, taxpayers could be individuals or other legal entities. Failure to pay, together with nonacceptance of taxation, can be penalized by law. Tax consists of indirect or direct taxes or can 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 and to construct public facilities that are mutually agreed upon. several levies are a fixed percentage rate of private annual revenue, but most retribution scales are based on annual revenue. Most countries foist taxes on institution revenue also dividends. Countries generally also foist property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog supplies many templates of various clasification of taxes declared above, so you could easily do your tax estimates both individual and legal entities.
These templates can also be utilized for students who learn about taxes to complete their homework assignments. Also for workers who do company tax calculations in their daily job. Hope this inspires you all.
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