The word tax originally from the Latin ‘taxo’ which means obligatory financial fees or some kinds of levies forced on taxpayers, taxpayers could be individuals or other legal entities. Failure to pay, together with declining of taxation, could 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 nations have a tax system that is used to pay for public needs or to construct public facilities that are mutually agreed upon. several levies are a fixed percentage rate of personal annual revenue, but most tax scales are based on annual income. Most nations impose taxes on institution income also dividends. Countries frequently also foist property taxes, sales taxes, value added taxes, salary or tariff taxes.
This site provides many templates of various clasification of taxes stated above, so you could easily do your tax estimation both individual or legal organizations.
These templates can also be utilized for students who learn about taxes to complete their homework assignments. Also for employees who do organization tax estimation in their regular job. Hope this inspires you all.
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