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Taxes

Accounts payable

, is known as accounts payable. These debts are usually short-term and are expected to be paid within a specific time frame.

Accounts payable, a crucial concept in finance, refers to the debts that a person or business owes for services, inventory, and supplies. It is important to note that these debts are typically short-term and must be paid off within a specific time period. In simpler terms, accounts payable represent the money that is owed to others for goods or services received. As a responsible financial decision-maker, it is essential to have a clear understanding of this term and its implications.

Estate duty/tax

Death duties, also known as inheritance tax or estate tax, are taxes that are imposed on the transfer of assets after a person's death. This tax is calculated based on the ...

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Value added tax (vat)

Value-added tax, or VAT, is a type of turnover tax that is applied at every stage of production and distribution. While the end consumer is ultimately responsible for paying...

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Investment reserve

In the world of finance, there exists a system that allows qualifying taxpayers to earmark a portion of their earnings as a reserve for future investments. This reserve can ...

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Lump-sum rates

Taxation is a complex subject, but one that is essential to understand in the world of finance. As a knowledgeable professor, it is important for us to delve into the specifi...

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