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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.

Income subject to tax

As a financial expert, it is important to understand the concept of taxable income. Taxable income refers to any income that is subject to taxation, regardless of any deduct...

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Transaction taxes

Taxation is a crucial aspect of finance that involves levying charges on certain transactions. These transactions can vary, from sales tax on goods and services to property ...

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Habitual abode

This can be determined by considering factors such as permanent residence, personal and economic ties, and the center of vital interests. This rule helps determine which coun...

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Customs duties

, also known as customs duties, are a crucial aspect of international trade and play a significant role in a country's economy. These taxes are imposed by the government to re...

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