The phrase tax originally from the Latin ‘taxo’ which means obligatory economy fees or several classifications of levies imposed on taxpayers, taxpayers can be personals or other legal entities. 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 countries have a tax system that is utilized to pay for public needs and to construct public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of private annual income, but most tax scales are based on annual revenue. Most countries push taxes on institution income and dividends. Countries generally also foist value added taxes, property taxes, salary or tariff taxes, sales taxes.
This blog provides many templates of various types of taxes stated above, so you could easily do your tax calculations both personal and legal institutions.
These templates could also be used for students who learn about taxes to complete their homework assignments. Also for workers who do institution tax calculations in their daily job. Hope this inspires you all.
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