The word tax originally from the Latin ‘taxo’ which means mandatory monetary fees or some kinds of levies imposed on taxpayers, taxpayers could be personals or another legal entities. Failure to pay, together with rejection of taxation, could be penalized by law. Tax consists of indirect or direct taxes also can 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 revenue, but most retribution scales are based on annual income. Most nations foist taxes on institution income or dividends. Countries often also force value added taxes, property taxes, salary or tariff taxes, sales taxes.
This site provides many templates of various types of taxes declared above, so you could easily do your tax calculations both individual 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 corporate tax estimation in their regular job. Hope this inspires you all.
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