The phrase tax comes from the Latin ‘taxo’ which means compulsory financial fees or several types of levies foisted on taxpayers, taxpayers can be individuals or other legal institutions. 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 countries have a tax system that is used to pay for public needs and to build public facilities that are mutually agreed upon. several levies are a fixed percentage rate of individual annual revenue, but most tax scales are based on annual revenue. Most countries impose taxes on corporate revenue and dividends. Countries commonly also foist value added taxes, property taxes, salary or tariff taxes, sales taxes.
This site supplies many templates of various clasification of taxes mentioned above, so you could easily do your tax estimates both private or legal organizations.
These templates could also be used for students who learn about taxes to complete their homework assignments. Also for employees who do entity tax calculations in their regular work. Hope this inspires you all.
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