The phrase retribution comes from the Latin ‘taxo’ which means mandatory monetary fares or several kinds of levies foisted on taxpayers, taxpayers can be personals or other legal institutions. Failure to pay, together with refusal of taxation, could be punished by law. Tax consists of direct or indirect taxes and can be paid in the form of money or equivalent to labor.
Most nations own a tax system that is utilized to pay for public needs and to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of individual annual revenue, but most tax scales are based on annual revenue. Most nations foist taxes on institution revenue and dividends. Countries usually also impose value added taxes, property taxes, salary or tariff taxes, sales taxes.
This site provides many templates of various types of taxes declared above, so you could easily do your tax estimates both personal or legal entities.
These templates could also be used for students who learn about taxes to complete their homework assignments. Also for employees who do organization tax calculations in their daily work. Hope this inspires you all.
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