The word retribution comes from the Latin ‘taxo’ which means compulsory economy costs or some kinds of levies imposed on taxpayers, taxpayers could be personals or another legal entities. Failure to pay, together with nonacceptance of taxation, could be penalized by law. Tax consists of direct or indirect taxes or 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 build public facilities that are mutually agreed upon. several levies are a fixed percentage rate of individual annual revenue, but most tax scales are based on annual revenue. Most nations force taxes on corporate income also dividends. Countries commonly also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog provides many templates of various clasification of taxes mentioned above, so you can easily do your tax estimates both personal and legal entities.
These templates could also be utilized for students who study about taxes to complete their homework assignments. Also for employees who do corporate tax calculations in their daily job. Hope this inspires you all.
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