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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.

Agency

A company that offers specialized services to a foreign entity is known as a dependent agency. This establishes a permanent presence for the foreign entity in the country wh...

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Tax bill

Tax laws are an essential part of a country's economic system. Once a draft law on a tax matter is approved by the government, it is then presented to the Parliament for fur...

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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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Fiscal transparency

When we "look through" an entity, we are essentially attributing profits and losses directly to the individual members of that entity. This means that the profits of certain...

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