The phrase tax taken from the Latin ‘taxo’ which means mandatory monetary fees or several categories of levies forced on taxpayers, taxpayers can be privates or other legal entities. Failure to pay, together with refusal 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 income, but most retribution scales are based on annual revenue. Most nations foist taxes on institution revenue and dividends. Nations often also impose property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog provides many templates of various types of taxes stated above, so you can easily do your tax calculations both private and legal institutions.
These templates can also be used for students who learn about taxes to complete their homework assignments. Also for workers who do institution tax estimates in their regular work. Hope this inspires you all.
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