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Taxes

Effective tax rate

As we explore the realm of taxation, it is important to understand the concept of marginal tax rate. This refers to the rate at which an individual's tax liability would be taxed if it were subject to a flat rate, rather than a progressive one. It is calculated by determining the percentage of a person's total taxable income that is owed in taxes. This fundamental understanding of marginal tax rate is crucial in comprehending the complexities of tax systems.

Tax sparing credit

Tax treaties between developing countries and foreign investors often include a provision for double taxation relief, known as "tax sparing." This refers to a situation wher...

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Fraud

As a financial expert, it is crucial to understand the concept of tax fraud. It refers to the intentional act of evading taxes and is considered a serious offense under crim...

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Destination principle

One of the core principles in a VAT system is the destination principle. This principle requires that VAT on goods is paid in the country where the buyer resides, also known...

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Income splitting

A key concept in finance is the utilization of arrangements where income, that would have been subjected to a higher tax rate if received by the original earner, is instead ...

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