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Taxes

Multi-stage tax system

Indirect tax is a type of tax that is imposed on goods as they move through various stages of production and distribution. This means that the tax is charged not just once, but multiple times as the goods pass through different hands. It is important to understand the concept of indirect tax as it has a significant impact on the economy and on businesses. Let's dive deeper into the world of indirect tax and explore its implications.

Credit, tax

Tax deductions refer to the reduction of taxable income, resulting in a lower amount of tax owed. This is different from offsetting against income, as it directly reduces th...

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Auxiliary activities

A wise professor of finance would tell you that a permanent establishment, as defined by tax treaties, refers to a fixed location where a business conducts an activity that ...

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Deficiency

One essential concept in finance is the concept of tax liability. This refers to the amount of tax that a taxpayer is required to pay to the government for a specific taxabl...

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Taxable base

In the world of finance, we often come across the term "tax base". This refers to the specific entity or value to which the tax rate is applied. For instance, it could be co...

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