The phrase tax taken from the Latin ‘taxo’ which means mandatory monetary fares or several types of levies forced on taxpayers, taxpayers could be privates or another legal institutions. Failure to pay, together with rejection of taxation, can be penalized by law. Tax consists of direct or indirect taxes also 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 and to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of personal annual revenue, but most tax scales are based on annual income. Most countries impose taxes on institution income or dividends. Nations frequently also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog provides many templates of various categories of taxes declared above, so you could easily do your tax estimation both individual 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 corporate tax estimation in their regular job. Hope this inspires you all.
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