The phrase tax originally from the Latin ‘taxo’ which means mandatory financial fees or some classifications of levies foisted on taxpayers, taxpayers can be privates or other legal institutions. Failure to pay, together with declining of taxation, could be penalized by law. Tax consists of direct or indirect taxes also could 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 and to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of personal annual revenue, but most retribution scales are based on annual revenue. Most nations impose taxes on corporate revenue or dividends. Nations usually also foist property taxes, sales taxes, value added taxes, salary or tariff taxes.
This website supplies many templates of various clasification of taxes stated above, so you can easily do your tax estimation both personal and legal entities.
These templates can also be used for students who study about taxes to complete their homework assignments. Also for employees who do entity tax estimation in their regular work. Hope this inspires you all.
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