The word tax comes from the Latin ‘taxo’ which means obligatory economy fees or some categories of levies forced on taxpayers, taxpayers could be personals or another legal institutions. Failure to pay, together with rejection of taxation, can be penalized by law. Tax consists of indirect or direct taxes and could be paid in the form of money or equivalent to labor.
Most nations have a tax system that is used to pay for public needs also 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 force taxes on institution revenue also dividends. Countries usually also impose value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog provides many templates of various clasification of taxes stated above, so you could easily do your tax estimation both personal and legal entities.
These templates could also be utilized for students who study about taxes to complete their homework assignments. Also for employees who do organization tax estimates in their regular job. Hope this helps you all.
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