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Taxes

Debtor

In the world of finance, we often come across the term "debtor" or "borrower". This refers to an individual or entity that has taken on a financial obligation to repay borrowed funds. This could be in the form of a loan, credit card debt, or any other type of financial agreement. Essentially, a debtor is someone who owes money to someone else. As we dive deeper into the world of finance, understanding the role of a debtor is crucial.

Gross income, taxes on

In certain nations, individuals are subject to income taxes based on their total income, with no allowances for expenses. This typically occurs at relatively low rates. As a ...

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Level playing field

Tax equalization is a strategy used by countries to minimize discrepancies in the taxation of mobile entities or transactions. This ensures fair competition among nations ba...

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Flat tax

A flat tax is a type of tax system where all income levels are subject to the same tax rate. This concept is often explored as an alternative to the progressive tax, which i...

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Operating lease

A lessor, in the context of lease agreements, is considered as the legal owner of the leased asset for tax purposes. This means that the lessor is responsible for paying tax...

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