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Taxes

Non-recourse debt

A non-recourse debt is a type of financing where the borrower is not personally liable for the repayment of the debt. This means that the lender can only use the pledged collateral to satisfy the debt, and cannot go after the borrower's other assets. This type of debt is commonly used in real estate financing, where the property acts as collateral for the loan. It is important to understand the implications of non-recourse debt before entering into any financial agreements.

Soak-up tax

A foreign tax credit is a financial term that refers to a tax or levy that is dependent on the availability of a tax credit in another country. This means that if a taxpayer ...

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Overhead expenses

Let's discuss the concept of overhead costs in finance. These are the expenses that a business incurs, not related to the production of goods or services. It's important to ...

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Retroactive effect

Understanding the impact of tax laws on past events is crucial for taxpayers. These laws can provide significant advantages for individuals when properly utilized. However, ...

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Benefit test

When assessing the deductibility of payments made to a related company in a multinational group for intra-group services, tax authorities require evidence of a tangible bene...

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