The word tax comes from the Latin ‘taxo’ which means obligatory financial fares or some kinds of levies foisted on taxpayers, taxpayers can be individuals 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 nations have a tax system that is utilized to pay for public needs and to construct 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 countries impose taxes on corporate revenue also dividends. Countries frequently also foist property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog supplies many templates of various clasification of taxes stated above, so you can easily do your tax estimation both individual or legal entities.
These templates could also be used for students who learn about taxes to complete their homework assignments. Also for employees who do organization tax estimates in their regular job. Hope this inspires you all.
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