The word tax comes from the Latin ‘taxo’ which means compulsory monetary fares or some categories of levies foisted on taxpayers, taxpayers could be privates or another legal institutions. Failure to pay, together with rejection of taxation, can be punished by law. Tax consists of direct or indirect taxes or can be paid in the form of money or equivalent to labor.
Most countries have a tax system that is utilized to pay for public needs or to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of individual annual income, but most retribution scales are based on annual income. Most nations impose taxes on institution revenue also dividends. Countries often also foist value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog provides many templates of various types of taxes stated above, so you could easily do your tax calculations both personal and legal entities.
These templates can also be utilized for students who study about taxes to complete their homework assignments. Also for employees who do institution tax estimates in their daily job. Hope this helps you all.
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