The phrase tax taken from the Latin ‘taxo’ which means obligatory economy fees or some categories of levies imposed on taxpayers, taxpayers could be individuals or other legal organizations. Failure to pay, together with refusal of taxation, can 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 or to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of individual annual revenue, but most tax scales are based on annual income. Most countries foist taxes on institution income and dividends. Countries usually also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog supplies many templates of various types of taxes mentioned above, so you could easily do your tax calculations both private or legal entities.
These templates could also be used for students who study about taxes to complete their homework assignments. Also for workers who do corporate tax estimation in their regular work. Hope this inspires you all.
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