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Taxes

Gross income

In the world of finance, gross receipts refer to the total amount of money or assets received by an individual or business for their services. This can include both cash and property received as compensation for independent personal services. Additionally, gross receipts also encompass any income derived from a trade, business or service, such as interest, dividends, royalties, rentals, and fees. In essence, it encompasses all forms of compensation received by a taxpayer, making it an important term to understand in the realm of finance.

Sham transaction

A tax strategy often utilized by companies, a transaction without substance lacks any real economic or business purpose and is designed solely for the purpose of minimizing ...

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Source of income

In the world of finance, the term "source" refers to the origin or generation of income in a specific place or country. This concept can vary depending on the national rules...

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Head office expenses

When a company has its main office in one country and operates through a branch or other permanent establishment in another country, certain expenses incurred by the main of...

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Tax holiday

A common fiscal policy measure utilized in developing nations is the tax holiday. This strategy offers a temporary period of relief from income tax for newly established ind...

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