The word retribution taken from the Latin ‘taxo’ which means compulsory economy fees or several kinds of levies imposed on taxpayers, taxpayers can be personals or another legal institutions. Failure to pay, together with declining 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 have a tax system that is used to pay for public needs or to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of personal annual revenue, but most tax scales are based on annual income. Most nations foist taxes on corporate income and dividends. Nations commonly also impose value added taxes, property taxes, salary or tariff taxes, sales taxes.
This site provides many templates of various clasification of taxes stated above, so you can easily do your tax estimation both private and legal entities.
These templates could also be utilized for students who learn about taxes to complete their homework assignments. Also for employees who do company tax estimates in their regular work. Hope this helps you all.
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