The phrase tax comes from the Latin ‘taxo’ which means mandatory economy fees or some kinds of levies forced on taxpayers, taxpayers can be personals or another legal institutions. Failure to pay, together with rejection of taxation, could be penalized by law. Tax consists of direct or indirect taxes or can be paid in the form of money or equivalent to labor.
Most nations have a tax system that is utilized to pay for public needs also to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of personal annual income, but most tax scales are based on annual revenue. Most nations push taxes on corporate income or dividends. Nations generally also foist value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog supplies many templates of various clasification of taxes declared above, so you could easily do your tax estimates both individual or legal organizations.
These templates could also be utilized for students who study about taxes to complete their homework assignments. Also for employees who do corporate tax estimation in their daily job. Hope this inspires you all.
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