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Taxes

Control

When one person has the ability to ensure that another person follows their desires, this is referred to as control. This control can be utilized by individuals and corporations to minimize their tax obligations. In most cases, a company is considered to have control over another company if it possesses more than 50% of the latter's voting shares. However, the exact definitions of control may differ depending on the country and circumstances. Understanding this concept is crucial for navigating the complex world of finance and taxation.

Accounting period

is known as Tax Year. This is typically a calendar year, but can also be a fiscal year based on the specific accounting period of a business. The concept of a tax year refe...

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Generation-skipping tax

In order to prevent the avoidance of transfer tax, which includes both estate tax and gift tax, a specific type of tax is imposed. This tax is known as generation-skipping t...

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Graduated rate

A progressive tax system is one where the amount of tax paid increases as the taxable income increases. This is also known as a marginal tax rate. In simpler terms, as a per...

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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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