Taxes

Estimated assessment

When it comes to income tax, it is important to keep accurate records in order to determine the amount of tax that is due. This is especially crucial for small traders, who may not have the resources to maintain detailed records. In cases where the records are insufficient, the tax authorities may have to use an estimate to calculate the taxable income or profits. This is done to ensure fair taxation and prevent any potential tax evasion.

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Wear and tear

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