The phrase retribution taken from the Latin ‘taxo’ which means mandatory economy fares or several types of levies imposed on taxpayers, taxpayers can be privates or other legal organizations. Failure to pay, together with rejection of taxation, could be punished by law. Tax consists of direct or indirect taxes also can be paid in the form of money or equivalent to labor.
Most countries 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 personal annual income, but most tax scales are based on annual income. Most countries force taxes on institution income and dividends. Countries generally also impose value added taxes, property taxes, salary or tariff taxes, sales taxes.
This website supplies many templates of various clasification of taxes mentioned above, so you can easily do your tax estimation both individual or legal entities.
These templates can also be used for students who learn about taxes to complete their homework assignments. Also for workers who do institution tax estimates in their regular job. Hope this inspires you all.
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