The phrase tax taken from the Latin ‘taxo’ which means mandatory economy fees or several classifications of levies foisted on taxpayers, taxpayers can be individuals or other legal institutions. Failure to pay, together with rejection of taxation, can be punished by law. Tax consists of indirect or direct taxes and could 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 or to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of private annual revenue, but most tax scales are based on annual income. Most nations force taxes on institution income also dividends. Nations generally also foist property taxes, sales taxes, value added taxes, salary or tariff taxes.
This site provides many templates of various clasification of taxes declared above, so you can easily do your tax estimates both individual or legal entities.
These templates could also be used for students who learn about taxes to complete their homework assignments. Also for workers who do institution tax estimation in their daily job. Hope this helps you all.
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