The word tax originally from the Latin ‘taxo’ which means mandatory economy fares or several categories of levies imposed on taxpayers, taxpayers can be individuals or other legal entities. Failure to pay, together with refusal of taxation, could be penalized by law. Tax consists of indirect or direct taxes also 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. several levies are a fixed percentage rate of private annual income, but most retribution scales are based on annual revenue. Most nations force taxes on institution revenue and dividends. Countries often also force value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog supplies many templates of various clasification of taxes stated above, so you could easily do your tax calculations both individual and legal organizations.
These templates can also be used for students who study about taxes to complete their homework assignments. Also for employees who do entity tax estimates in their daily job. Hope this inspires you all.
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