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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.

Turnover tax

Indirect taxes are a broad category encompassing various types of consumption and sales taxes. These taxes are levied on goods and services, typically at the point of sale, ...

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Administrative expenses

Indirect expenses, also known as overhead costs, are not as straightforwardly linked to a specific activity as direct costs such as production and sales expenses. They often...

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Recovery of tax

Understanding taxation is crucial in the world of finance. For taxpayers, it can result in a tax refund, while for tax authorities, it means collecting overdue taxes. This d...

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Credit, foreign tax

Double taxation is a common concern for businesses operating in multiple countries. To alleviate this issue, there is a method known as the foreign tax credit. Essentially, ...

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