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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.

Gross profits tax

In the realm of finance, there exists a common term known as a "gross receipts tax." This tax is typically levied at a lower rate and is based on the total revenue of a bus...

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Net worth tax

The net worth tax is a common feature in many European countries, particularly in the realm of property taxation. For resident taxpayers, the taxable base often includes the...

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Business purpose test

Tax avoidance schemes can be rendered ineffective through the use of a powerful tool known as the "business purpose" test. This test is used to identify artificial schemes t...

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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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