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Taxes

Provisional assessment

In finance, an assessment of tax is conducted before a final assessment can be made. This initial assessment is typically based on an estimated figure or the previous year's figures. It is an important step in the tax process, providing a preliminary understanding of the taxes owed. This allows for planning and preparation before the final assessment is made. As a knowledgeable professor, I urge you to always stay informed and updated on these financial terms to make informed decisions.

Gross income

In the world of finance, gross receipts refer to the total amount of money or assets received by an individual or business for their services. This can include both cash and...

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Operating lease

A lessor, in the context of lease agreements, is considered as the legal owner of the leased asset for tax purposes. This means that the lessor is responsible for paying tax...

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World wide income

A resident company or individual's income tax liability is determined by the country they reside in. This means that their worldwide income is subject to corporate or indivi...

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Dta

A Double Tax Agreement, also known as a Tax Treaty, is a legal agreement between two countries to prevent individuals and companies from being taxed twice on their income. T...

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