The phrase retribution taken from the Latin ‘taxo’ which means obligatory monetary costs or several kinds of levies foisted on taxpayers, taxpayers can be individuals or another legal entities. Failure to pay, together with rejection of taxation, can be penalized by law. Tax consists of direct or indirect taxes or 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 and to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of personal annual income, but most retribution scales are based on annual income. Most nations push taxes on institution revenue and dividends. Nations often also foist property taxes, sales taxes, value added taxes, salary or tariff taxes.
This website provides many templates of various categories of taxes declared above, so you could easily do your tax estimates both private and legal institutions.
These templates can also be used for students who study about taxes to complete their homework assignments. Also for employees who do company tax estimates in their daily job. Hope this inspires you all.
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