The phrase tax originally from the Latin ‘taxo’ which means obligatory economy costs or several categories of levies foisted on taxpayers, taxpayers could be individuals or another legal organizations. Failure to pay, together with rejection of taxation, can be punished by law. Tax consists of direct or indirect taxes and could 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 also to construct public facilities that are mutually agreed upon. several levies are a fixed percentage rate of private annual income, but most retribution scales are based on annual income. Most countries foist taxes on institution revenue and dividends. Nations generally also force value added taxes, property taxes, salary or tariff taxes, sales taxes.
This site supplies many templates of various clasification of taxes stated above, so you can easily do your tax calculations both individual and legal entities.
These templates could also be utilized for students who study about taxes to complete their homework assignments. Also for employees who do institution tax calculations in their daily job. Hope this inspires you all.
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