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Taxes

Double taxation, domestic and international

Let's dive into the concept of double taxation, a common term in the realm of finance. Domestic double taxation occurs when a federal state imposes comparable taxes on a taxpayer by different tax authorities of equal power. On the other hand, international double taxation occurs when a taxpayer is subject to similar taxes in two or more countries on the same income or capital. This can happen when income is taxed both in the source country and in the country where the recipient resides.

Investment allowance

When it comes to finance, understanding the concept of allowance for depreciable assets is crucial. This refers to the additional amount added to the initial cost of a quali...

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Tax clearance certificate

A tax clearance certificate is a document issued by the tax authorities that certifies a taxpayer has either paid all taxes due or is not liable for any taxes. In some count...

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Effective tax rate

As we explore the realm of taxation, it is important to understand the concept of marginal tax rate. This refers to the rate at which an individual's tax liability would be ...

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Luxury taxes

The concept of an indirect ad valorem tax may seem complicated, but it's actually quite simple. This tax is applied to certain luxury goods, such as toiletries, cosmetics, a...

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