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Deferment of tax

Let's discuss the concept of tax deferral, which refers to the postponement of tax payments from the present year to a future year. Many countries have implemented laws to prevent taxpayers from using tactics to defer taxes that are not in line with legal regulations. An example of such legislation is the Controlled Foreign Corporation (CFC) legislation. This ensures that individuals do not exploit loopholes in the system to delay paying taxes.

Ring fence

Tax legislation creates a theoretical enclosure that surrounds specific profits, losses, transactions, or groups of transactions. This enclosure serves the purpose of isolat...

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Pro rata rule

VAT systems typically allow for a credit on input tax, which refers to the VAT previously paid on goods and services. This credit can be claimed when these items are used in...

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Alienation of income

One often hears the term "transfer of income rights" in the realm of finance. This refers to the process of transferring the right to receive income from a source without ne...

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Tax home

In the world of taxation, the term "regular place of business" refers to the location where a taxpayer conducts their everyday business or carries out their duties, regardle...

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