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Taxes

Self-assessment

In the realm of finance, there exists a system that mandates taxpayers to disclose the basis of their assessment, such as their taxable income. This process also involves submitting a calculation of the due taxes and, most often, accompanying it with the corresponding payment. It is the responsibility of tax authorities to review these declarations, possibly through random audits, to ensure the accuracy of the taxpayer's reported income.

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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Accounting records

"Let's take a look at the various documents and books that play a crucial role in preparing a tax return and financial statements. These include the general ledger, which re...

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Imputed income

Taxpayer's gain from providing their own services or using their own property is known as economic benefit. This can include income earned from work as well as profits made ...

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Revenue neutrality

Tax reform is subject to certain limitations, the most important of which is that it should not result in a significant change in the government's revenue. This means that a...

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