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Taxes

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. In order to accurately calculate business profits, most income tax systems allow for deductions in relation to buildings, plant, and machinery that undergo wear and tear during business operations.

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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Accounting period

is known as Tax Year. This is typically a calendar year, but can also be a fiscal year based on the specific accounting period of a business. The concept of a tax year refe...

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Customs duties

, also known as customs duties, are a crucial aspect of international trade and play a significant role in a country's economy. These taxes are imposed by the government to re...

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Mortgage tax

A common obligation for homeowners, the tax on mortgages takes the form of a stamp duty imposed on the mortgage contract. This financial burden, often overlooked, can signif...

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