The phrase tax comes from the Latin ‘taxo’ which means compulsory financial fees or some types of levies forced on taxpayers, taxpayers could be individuals or other legal institutions. Failure to pay, together with refusal 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 own a tax system that is used 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 tax scales are based on annual revenue. Most countries push taxes on institution income also dividends. Nations generally also force property taxes, sales taxes, value added taxes, salary or tariff taxes.
This blog provides many templates of various clasification of taxes stated above, so you can easily do your tax calculations both individual and legal organizations.
These templates could also be used for students who study about taxes to complete their homework assignments. Also for workers who do company tax estimation in their regular job. Hope this helps you all.
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