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Taxes

Output tax

In the realm of taxes, one term that is frequently encountered is "output tax". This refers to the tax that is imposed on the sale of goods or services by individuals or businesses subject to value-added tax (VAT). In contrast, "input tax" refers to the tax that can be claimed as a credit by the seller, making it a crucial aspect in the calculation of VAT. Understanding this distinction is essential for anyone navigating the complex world of finance and taxation.

Valuation principles

Understanding the principles of tax law when it comes to valuing business and non-business assets, as well as inventory, is crucial for any financial professional. This know...

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Debtor

In the world of finance, we often come across the term "debtor" or "borrower". This refers to an individual or entity that has taken on a financial obligation to repay bor...

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International double taxation

As we delve into the topic of taxation, it is important to understand the concept of double taxation. This refers to the occurrence of taxing the same income or asset twice...

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Benefits in kind

One of the fundamental concepts in finance is the notion of non-cash compensation, which encompasses earnings received from employment in forms other than cash. This can inc...

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