The word retribution originally from the Latin ‘taxo’ which means obligatory economy costs or some kinds of levies forced on taxpayers, taxpayers can be individuals or other legal organizations. Failure to pay, together with rejection of taxation, could be penalized by law. Tax consists of indirect or direct taxes also can be paid in the form of money or equivalent to labor.
Most countries have 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 private annual income, but most tax scales are based on annual revenue. Most countries impose taxes on institution income and dividends. Countries generally also force value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog provides many templates of various clasification of taxes stated above, so you could easily do your tax estimation both private or legal institutions.
These templates could also be used for students who study about taxes to complete their homework assignments. Also for employees who do entity tax calculations in their daily job. Hope this helps you all.
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