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Taxes

Loss relief

Income tax laws often include provisions for mitigating losses, commonly through carrying them over to offset against profits in previous or future years, or by using them to reduce other income within the same tax year. These measures provide a means for taxpayers to mitigate the financial impact of losses incurred in their business or personal endeavors. This can be particularly beneficial for businesses facing economic challenges or individuals experiencing unexpected financial setbacks.

Accelerated depreciation

A common method of depreciating business assets is known as the accelerated method. This method allows taxpayers to allocate larger deductions towards the beginning of the a...

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Revenue neutrality

Tax reform is subject to certain limitations, the most important of which is that it should not result in a significant change in the government's revenue. This means that a...

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Balancing payment

In finance, we often come across the term "payment" which refers to the transfer of funds from one party to another. In the context of Cost Contribution Arrangements (CCA), ...

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Tiebreaker rule

A crucial aspect of tax treaties is the provision aimed at avoiding dual residency for individuals. This prevents them from being considered residents in both treaty countri...

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