The phrase tax comes from the Latin ‘taxo’ which means mandatory financial costs or several classifications of levies foisted on taxpayers, taxpayers could be personals or other legal institutions. Failure to pay, together with rejection of taxation, can be punished by law. Tax consists of direct or indirect taxes and could 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 or to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of private annual revenue, but most retribution scales are based on annual income. Most nations foist taxes on institution revenue or dividends. Nations often also foist value added taxes, property taxes, salary or tariff taxes, sales taxes.
This site provides many templates of various categories of taxes mentioned above, so you can easily do your tax calculations both individual or legal entities.
These templates can also be used for students who learn about taxes to complete their homework assignments. Also for employees who do company tax estimation in their daily job. Hope this helps you all.
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