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Taxes

Jeopardy assessment

A tax assessment is a crucial step in the process of collecting taxes. It is typically carried out when there is a risk of losing tax revenue. This can happen due to various reasons, such as inaccurate reporting or deliberate tax evasion. As a knowledgeable professor in finance, I urge you to understand the importance of tax assessments in ensuring a fair and efficient tax system.

Graduated rate

A progressive tax system is one where the amount of tax paid increases as the taxable income increases. This is also known as a marginal tax rate. In simpler terms, as a per...

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Local tax

Local taxes are imposed by lower levels of government, such as state, provincial, county or city governments, in countries with central or federal governments. These taxes ar...

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Source of income

In the world of finance, the term "source" refers to the origin or generation of income in a specific place or country. This concept can vary depending on the national rules...

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Primary adjustment

Let's delve into the concept of transfer pricing, a crucial aspect of international taxation. Simply put, transfer pricing refers to the pricing of goods or services between...

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