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Taxes

Non-recourse debt

A non-recourse debt is a type of financing where the borrower is not personally liable for the repayment of the debt. This means that the lender can only use the pledged collateral to satisfy the debt, and cannot go after the borrower's other assets. This type of debt is commonly used in real estate financing, where the property acts as collateral for the loan. It is important to understand the implications of non-recourse debt before entering into any financial agreements.

Use tax

In the realm of finance, we often come across the term "use tax." This refers to a tax imposed on goods that are used within a certain jurisdiction, even if they were purcha...

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Tax-free zone

A customs-free zone is a designated area within a country's borders where tariffs and other indirect taxes do not apply. This allows for the free movement of goods and servi...

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Gross income, taxes on

In certain nations, individuals are subject to income taxes based on their total income, with no allowances for expenses. This typically occurs at relatively low rates. As a ...

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Rebate

A tax credit, also known as a fiscal credit, is a term that is commonly used in some countries to refer to a type of tax reduction. It is a tool used by governments to incen...

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