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Taxes

Double taxation, domestic and international

Let's dive into the concept of double taxation, a common term in the realm of finance. Domestic double taxation occurs when a federal state imposes comparable taxes on a taxpayer by different tax authorities of equal power. On the other hand, international double taxation occurs when a taxpayer is subject to similar taxes in two or more countries on the same income or capital. This can happen when income is taxed both in the source country and in the country where the recipient resides.

Invoice basis

When we talk about the application of VAT, we are referring to a method of calculating the tax that is added to the price of goods or services. This involves taking into acco...

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Round trip transaction

As a finance expert, it's important to understand the concept of transfer pricing abuse. This occurs when a parent company creates intangible property and then licenses it t...

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Schedular tax system

A fundamental concept in finance is the tax system, which involves the separate taxation of income from various sources. This means that different "schedules" are used to de...

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Excise tax

A taxation is a financial levy placed upon various activities, professions, benefits, production, trade, or utilization. This is a common practice used by governments to gen...

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