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Taxes

Payroll tax

One of the essential terms in the field of finance is payroll tax. This refers to the tax that an employer must pay on the total amount of salaries, wages, and other forms of compensation given to their employees. Unlike other types of taxes, payroll tax is not based on individual circumstances, such as one's residence or family status. It is a universal tax that applies to all employees regardless of their personal situation.

Excise tax

A taxation is a financial levy placed upon various activities, professions, benefits, production, trade, or utilization. This is a common practice used by governments to gen...

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Cash basis (cash method)

In the world of finance, there exists a method of accounting known as cash basis. This method involves recognizing income and deductions at the time when money is received o...

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Field audit

This is known as a field audit. A crucial aspect of tax compliance is the field audit, where tax authorities assess a taxpayer's tax return at their place of business. This...

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Fee

Central and local governments levy fees as a form of payment for specific services provided to citizens. These fees are distinct from taxes and are not typically included in...

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