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Taxes

Refund (of tax)

When discussing taxation, it is important to understand the concept of tax repayment. Simply put, this refers to the amount of tax that is returned to a taxpayer. This can occur for various reasons, such as overpayment of taxes or claiming tax credits. It is essential for individuals to keep track of their tax repayments in order to accurately assess their financial situation. By understanding this aspect of taxation, individuals can better manage their finances and plan for potential tax repayments in the future.

International double taxation

As we delve into the topic of taxation, it is important to understand the concept of double taxation. This refers to the occurrence of taxing the same income or asset twice...

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Tax compliance

Tax compliance is the measure of how well a taxpayer adheres to the tax regulations of their country. This includes properly reporting their income, submitting tax returns, ...

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Accrual basis (accrual method)

. In finance, there is a method of accounting called accrual basis. It involves recording income and expenses in taxable income or expense when they are earned or incurred, r...

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Capital loss

Capital gains are the profits obtained from the sale of a capital asset. However, in the event of a loss, it is referred to as a capital loss. This can occur when an asset i...

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