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Taxes

Book value

A taxpayer's accounting records reflect the value of their individual assets, which is determined by subtracting any depreciation allowances from the actual cost. This amount is known as the asset's net book value, and it is crucial in understanding the financial standing of a taxpayer. By accurately calculating and recording this value, taxpayers can make informed decisions about their assets and overall financial health. Let's delve deeper into this concept and its significance in the world of finance.

Auxiliary company

A subsidiary is a company that is owned by a larger parent company. They provide supporting services to other companies within the same group. These services can include adm...

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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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Foreign tax relief

When discussing the topic of foreign tax relief, there are two main approaches that are often used: the credit method and the exemption method. In simple terms, these method...

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Offence, tax

In the world of finance, it is crucial to understand tax offences as they can have severe consequences for individuals and businesses alike. These offences, as outlined in t...

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