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Taxes

Tax clearance certificate

A tax clearance certificate is a document issued by the tax authorities that certifies a taxpayer has either paid all taxes due or is not liable for any taxes. In some countries, this certificate is required for individuals to leave the country. It serves as proof of compliance with tax laws and regulations. This document is essential for individuals who want to avoid any legal consequences related to tax obligations.

Invoice basis

When we talk about the application of VAT, we are referring to a method of calculating the tax that is added to the price of goods or services. This involves taking into acco...

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Graduated rate

A progressive tax system is one where the amount of tax paid increases as the taxable income increases. This is also known as a marginal tax rate. In simpler terms, as a per...

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Ring fence

Tax legislation creates a theoretical enclosure that surrounds specific profits, losses, transactions, or groups of transactions. This enclosure serves the purpose of isolat...

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Lump-sum deductions

Tax deductions, commonly applied to one's income, are used to calculate taxable income. However, they may not always accurately represent the true financial situation. It's ...

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