The phrase tax taken from the Latin ‘taxo’ which means mandatory financial fees or several categories of levies imposed on taxpayers, taxpayers could be personals or other legal institutions. Failure to pay, together with rejection of taxation, could be penalized by law. Tax consists of direct or indirect taxes and can be paid in the form of money or equivalent to labor.
Most countries own a tax system that is used 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 income. Most nations push taxes on institution revenue or dividends. Nations generally also foist value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog supplies many templates of various clasification of taxes stated above, so you could easily do your tax estimates both personal and 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 estimation in their regular job. Hope this helps you all.
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