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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.

Accrual basis (accrual method)

. In finance, there is a method of accounting called accrual basis. It involves recording income and expenses in taxable income or expense when they are earned or incurred, r...

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Invoice company

Transfer pricing is a common concept in the world of finance, and one term that often comes up is "tax haven company." This refers to a company that is set up in a jurisdict...

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Lump-sum exempt amounts

A tax-free threshold is a set amount of income or net worth that individuals are allowed to earn without being subject to taxation. It serves as a fixed sum that acts as a m...

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Frivolous position

A tax position that is deliberately put forward in an insincere manner and is clearly inappropriate. ...

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