The phrase tax taken from the Latin ‘taxo’ which means obligatory monetary costs or several kinds of levies imposed on taxpayers, taxpayers can be individuals or another legal entities. Failure to pay, together with refusal of taxation, can be penalized by law. Tax consists of indirect or direct 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 construct public facilities that are mutually agreed upon. several levies are a fixed percentage rate of private annual revenue, but most retribution scales are based on annual revenue. Most countries force taxes on corporate revenue and dividends. Nations usually also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This website provides many templates of various clasification of taxes stated above, so you could easily do your tax estimation both private or legal institutions.
These templates could also be utilized for students who learn about taxes to complete their homework assignments. Also for workers who do institution tax estimation in their daily job. Hope this inspires you all.
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