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Taxes

Investment method

One of the methods utilized in the realm of finance is the application of Value Added Tax (VAT) in business transactions. This involves the immediate crediting of tax against expenditure incurred during the year for the acquisition of business assets. These assets, which may include machinery and equipment for manufacturers, contain a tax component in their price. The method aims to accurately account for the tax element and provide a more streamlined approach in managing business assets.

Unitary tax system

In the realm of finance, there exists a concept known as the unitary tax system. This system calculates the profits of an enterprise or group as a whole, rather than individ...

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Current assets

In the realm of finance, we often come across terms such as cash, accounts receivable, inventory, and other assets. These are assets that hold the potential to be converted ...

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Residence principle of taxation

The fundamental concept of taxation, known as residence-based taxation, dictates that individuals who are considered residents of a country are liable to pay taxes on their ...

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Forfait

In certain countries, taxes may be imposed on an approximate taxable amount, known as a forfait, specifically when it comes to income tax or turnover tax for small businesse...

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