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Deferment of tax

Let's discuss the concept of tax deferral, which refers to the postponement of tax payments from the present year to a future year. Many countries have implemented laws to prevent taxpayers from using tactics to defer taxes that are not in line with legal regulations. An example of such legislation is the Controlled Foreign Corporation (CFC) legislation. This ensures that individuals do not exploit loopholes in the system to delay paying taxes.

Multi-stage tax system

Indirect tax is a type of tax that is imposed on goods as they move through various stages of production and distribution. This means that the tax is charged not just once, ...

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Shell company

A deceptive organization created by dishonest individuals to mask their tax evasion tactics....

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Turnover tax

Indirect taxes are a broad category encompassing various types of consumption and sales taxes. These taxes are levied on goods and services, typically at the point of sale, ...

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Deductions

In the realm of income tax, the term "deduction" refers to an item that is subtracted from taxable income, resulting in a reduction of said income. Essentially, deductions a...

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