The word retribution taken from the Latin ‘taxo’ which means obligatory financial costs or several classifications of levies foisted on taxpayers, taxpayers could be personals or another legal entities. Failure to pay, together with rejection of taxation, can be punished by law. Tax consists of direct or indirect taxes or can be paid in the form of money or equivalent to labor.
Most countries own a tax system that is utilized to pay for public needs and to build public facilities that are mutually agreed upon. several levies are a fixed percentage rate of personal annual income, but most retribution scales are based on annual revenue. Most countries impose taxes on corporate income also dividends. Countries often also foist property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog supplies many templates of various clasification of taxes declared above, so you could easily do your tax estimation both private and legal institutions.
These templates could also be used for students who study about taxes to complete their homework assignments. Also for workers who do corporate tax calculations in their daily job. Hope this inspires you all.
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