The phrase tax taken from the Latin ‘taxo’ which means mandatory economy fees or several types of levies forced on taxpayers, taxpayers could be personals or another legal entities. Failure to pay, together with rejection of taxation, can be penalized by law. Tax consists of direct or indirect taxes and could 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. several levies are a fixed percentage rate of individual annual income, but most tax scales are based on annual income. Most countries push taxes on institution income also dividends. Countries often also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This site provides many templates of various types of taxes mentioned above, so you could easily do your tax calculations both individual and legal entities.
These templates can also be utilized for students who study about taxes to complete their homework assignments. Also for workers who do entity tax calculations in their regular job. Hope this helps you all.
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