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Taxes

Progression

This is done in order to distribute the tax burden fairly among individuals.

As we delve into the world of finance, it's important to understand the concept of progressive individual income tax rates. This refers to the setup where a higher percentage of income is taxed as one's income increases. This approach aims to distribute the tax burden equitably among individuals. So you see, it's not just about paying taxes, but also ensuring fairness in the system.

Profit shifting

When it comes to managing a group or corporation, it's important to understand the concept of transfer pricing. This refers to the practice of allocating income and expenses...

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Soak-up tax

A foreign tax credit is a financial term that refers to a tax or levy that is dependent on the availability of a tax credit in another country. This means that if a taxpayer ...

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Assessment

on a transaction Calculating the tax owed on a financial transaction is known as tax computation. This involves analyzing the relevant tax laws and regulations to determine...

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Premium at the issue of shares

When a corporation issues shares with a value higher than its par value, it is referred to as excess of issue value. This amount is not considered as profits and is instead ...

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