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Taxes

Alienation of income

One often hears the term "transfer of income rights" in the realm of finance. This refers to the process of transferring the right to receive income from a source without necessarily transferring ownership of that source to the same individual. In simpler terms, it means someone can receive the benefits of an income source without actually owning it. This concept is important to understand in the world of finance and investing.

Jeopardy assessment

A tax assessment is a crucial step in the process of collecting taxes. It is typically carried out when there is a risk of losing tax revenue. This can happen due to various...

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Beneficial owner

In the world of finance, there exists a concept known as beneficial ownership. This refers to a situation where an individual, although not the legal owner of a property, st...

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Other income

In taxation, income that is not explicitly stated in a tax treaty is commonly addressed in a distinct section known as "other income". This category encompasses various type...

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Unitary tax system

In the realm of finance, there exists a concept known as the unitary tax system. This system calculates the profits of an enterprise or group as a whole, rather than individ...

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