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Taxes

Single entity approach

One method of taxing a legal entity's business is through a permanent establishment, rather than a subsidiary company. This approach, known as the single entity approach, treats a head office and permanent establishment as a single taxpayer for tax purposes. This means that even though they may be considered separate entities under accounting or commercial law, they are treated as one for taxation.

Corporate income tax

Income tax is a crucial concept in the world of finance, especially when it comes to the income of companies. It refers to the tax levied on the profits earned by a business...

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Pro rata rule

VAT systems typically allow for a credit on input tax, which refers to the VAT previously paid on goods and services. This credit can be claimed when these items are used in...

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Business purpose test

Tax avoidance schemes can be rendered ineffective through the use of a powerful tool known as the "business purpose" test. This test is used to identify artificial schemes t...

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Flat tax

A flat tax is a type of tax system where all income levels are subject to the same tax rate. This concept is often explored as an alternative to the progressive tax, which i...

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