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Taxes

Book value

A taxpayer's accounting records reflect the value of their individual assets, which is determined by subtracting any depreciation allowances from the actual cost. This amount is known as the asset's net book value, and it is crucial in understanding the financial standing of a taxpayer. By accurately calculating and recording this value, taxpayers can make informed decisions about their assets and overall financial health. Let's delve deeper into this concept and its significance in the world of finance.

Auxiliary company

A subsidiary is a company that is owned by a larger parent company. They provide supporting services to other companies within the same group. These services can include adm...

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Corporation shopping

Tax treaty shopping refers to the practice of exploiting tax treaties between countries in order to reduce or eliminate tax liability. A related term, sometimes used in addi...

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Death duties

Estate taxes, also known as death taxes, are levied on the transfer of an individual's assets upon their passing. These taxes are imposed by the government and are based on ...

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Balancing payment

In finance, we often come across the term "payment" which refers to the transfer of funds from one party to another. In the context of Cost Contribution Arrangements (CCA), ...

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