The phrase tax comes from the Latin ‘taxo’ which means obligatory financial costs or some categories of levies imposed on taxpayers, taxpayers can be individuals or another legal organizations. Failure to pay, together with rejection of taxation, could be punished by law. Tax consists of indirect or direct taxes also could 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 or to construct 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 impose taxes on institution income or dividends. Nations commonly also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This website provides many templates of various types of taxes mentioned above, so you could easily do your tax calculations both individual or legal entities.
These templates can also be utilized for students who study about taxes to complete their homework assignments. Also for employees who do company tax calculations in their regular work. Hope this helps you all.
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