The phrase tax taken from the Latin ‘taxo’ which means mandatory economy fares or several categories of levies foisted on taxpayers, taxpayers could be individuals or other legal institutions. Failure to pay, together with rejection of taxation, can be penalized by law. Tax consists of direct or indirect taxes also can 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 or to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of personal annual revenue, but most tax scales are based on annual revenue. Most countries push taxes on corporate income or dividends. Nations usually also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This site supplies many templates of various types of taxes mentioned above, so you could easily do your tax estimation both private and legal institutions.
These templates can also be used for students who learn about taxes to complete their homework assignments. Also for workers who do entity tax calculations in their daily job. Hope this helps you all.
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