The word retribution originally from the Latin ‘taxo’ which means compulsory monetary fees or several classifications of levies foisted on taxpayers, taxpayers could be privates or other legal institutions. Failure to pay, together with declining of taxation, could be penalized by law. Tax consists of indirect or direct taxes and 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 and to construct 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 income. Most countries foist taxes on corporate income also dividends. Countries often also foist property taxes, sales taxes, value added taxes, salary or tariff taxes.
This website provides many templates of various clasification of taxes mentioned above, so you can easily do your tax estimation both private or legal organizations.
These templates could also be utilized for students who study about taxes to complete their homework assignments. Also for employees who do company tax estimation in their daily job. Hope this inspires you all.
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