The phrase tax comes from the Latin ‘taxo’ which means mandatory economy fares or several categories of levies foisted on taxpayers, taxpayers can be privates or other legal organizations. Failure to pay, together with rejection 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 nations have a tax system that is utilized to pay for public needs also to build public facilities that are mutually agreed upon. several levies are a fixed percentage rate of personal annual income, but most tax scales are based on annual income. Most countries impose taxes on corporate revenue also dividends. Countries commonly also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This site provides many templates of various clasification of taxes mentioned above, so you could easily do your tax calculations both individual or legal institutions.
These templates could 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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