The phrase tax taken from the Latin ‘taxo’ which means mandatory monetary fares or several types of levies imposed on taxpayers, taxpayers can be individuals or another legal institutions. Failure to pay, together with nonacceptance 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 nations own a tax system that is utilized to pay for public needs or to build public facilities that are mutually agreed upon. Some levies are a fixed percentage rate of personal annual income, but most retribution scales are based on annual income. Most nations foist taxes on corporate income and dividends. Nations generally also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This site supplies 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 utilized for students who study about taxes to complete their homework assignments. Also for employees who do corporate tax calculations in their daily job. Hope this inspires you all.
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