The phrase tax comes from the Latin ‘taxo’ which means mandatory economy fares or some types of levies imposed on taxpayers, taxpayers could be individuals or other legal organizations. Failure to pay, together with declining 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 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 individual annual revenue, but most retribution scales are based on annual income. Most countries foist taxes on institution income also dividends. Nations commonly also foist value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog provides many templates of various clasification of taxes mentioned above, so you could easily do your tax estimates both individual or 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 estimates in their daily job. Hope this inspires you all.
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