The word tax comes from the Latin ‘taxo’ which means obligatory monetary costs or several types of levies forced on taxpayers, taxpayers could be personals or another legal entities. Failure to pay, together with rejection of taxation, could be penalized by law. Tax consists of direct or indirect taxes and can be paid in the form of money or equivalent to labor.
Most nations have a tax system that is used to pay for public needs also to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of private annual revenue, but most retribution scales are based on annual income. Most countries impose taxes on corporate revenue also dividends. Nations usually also foist property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog provides many templates of various clasification of taxes declared above, so you can easily do your tax estimation both individual and legal institutions.
These templates can also be used for students who study about taxes to complete their homework assignments. Also for employees who do entity tax calculations in their daily job. Hope this inspires you all.
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