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Taxes

Personal allowances

This can reduce the taxable income and thus, the amount of tax owed.

As we delve into the realm of personal finance, it is crucial to understand the concept of personal allowances. These allowances serve as deductions from an individual's income when calculating their taxable income. Typically, one can claim allowances for themselves, their spouse, children, and other dependents. By reducing the taxable income, these allowances can ultimately lower the amount of tax that an individual owes.

Dependent personal services

The OECD model tax treaty is a comprehensive guide for dealing with employment income, such as salaries and wages. This guide specifically addresses the treatment of these t...

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Indirect-charge method

In the realm of finance, there exists a practice known as cost allocation and apportionment, which involves determining the cost of services provided within a group and appr...

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Capital gain

A capital asset refers to any asset that is held for investment purposes, such as real estate, stocks, or bonds. When a capital asset is sold for a profit, this is known as ...

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Impost

In the world of finance, the term "impost" holds great significance. It represents a tax, specifically on goods that are imported into a country. This tax is determined by c...

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