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Taxes

Terrtoriality principle

One commonly used term in the world of finance is "territorial taxation". This concept refers to the practice of taxing individuals or businesses only within the boundaries of a particular country or sovereign tax authority. In countries that adopt this approach, residents are not required to pay taxes on any income earned from foreign sources. This principle is often seen as a way to promote economic growth and incentivize individuals and businesses to invest and do business within their own country.

Paid-in capital

A key concept in finance is capital, which refers to the financial resources a company has at its disposal. This can come from various sources, such as investors who purchas...

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Quarantining

The foreign tax credit system involves the calculation of foreign tax payable on specific categories of foreign income, which can then be applied as a credit towards domesti...

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Office audit

A tax audit is a routine inquiry conducted by a tax authority, typically regarding a straightforward tax issue. It is a systematic review of an individual or business's fina...

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Level playing field

Tax equalization is a strategy used by countries to minimize discrepancies in the taxation of mobile entities or transactions. This ensures fair competition among nations ba...

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