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Taxes

Payroll tax

One of the essential terms in the field of finance is payroll tax. This refers to the tax that an employer must pay on the total amount of salaries, wages, and other forms of compensation given to their employees. Unlike other types of taxes, payroll tax is not based on individual circumstances, such as one's residence or family status. It is a universal tax that applies to all employees regardless of their personal situation.

Wear and tear

As we delve into the world of finance, it is important to understand the concept of depreciation. This refers to the decrease in value of an asset due to its regular usage. ...

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Gross income, taxes on

In certain nations, individuals are subject to income taxes based on their total income, with no allowances for expenses. This typically occurs at relatively low rates. As a ...

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Private ruling

A tax ruling is a decision made by tax authorities for an individual taxpayer, typically pertaining to a specific transaction or set of transactions. It is important to note...

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Tiebreaker rule

A crucial aspect of tax treaties is the provision aimed at avoiding dual residency for individuals. This prevents them from being considered residents in both treaty countri...

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