The word retribution originally from the Latin ‘taxo’ which means obligatory economy fares or some categories of levies foisted on taxpayers, taxpayers can be individuals or another legal entities. Failure to pay, together with rejection of taxation, could 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 used to pay for public needs also to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of individual annual income, but most retribution scales are based on annual income. Most countries force taxes on institution income or dividends. Nations usually also force value added taxes, property taxes, salary or tariff taxes, sales taxes.
This website provides many templates of various clasification of taxes mentioned above, so you can easily do your tax estimation both individual and legal organizations.
These templates can also be used for students who learn about taxes to complete their homework assignments. Also for employees who do entity tax calculations in their regular work. Hope this helps you all.
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