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Taxes

Assessment

on a transaction

Calculating the tax owed on a financial transaction is known as tax computation. This involves analyzing the relevant tax laws and regulations to determine the appropriate amount of tax that needs to be paid. It is a crucial aspect of finance as it ensures compliance with tax laws and helps businesses and individuals make informed financial decisions. Understanding tax computation is essential for anyone involved in finance, as it is a fundamental concept that plays a significant role in financial planning and management.

Malpractice

Professional misconduct refers to the improper or unethical actions of a professional while carrying out their duties. This can be deliberate or unintentional, resulting fro...

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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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Destination principle

One of the core principles in a VAT system is the destination principle. This principle requires that VAT on goods is paid in the country where the buyer resides, also known...

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Allowance

Taxes are an integral part of our financial system, and it's important to understand different types of deductions or exemptions. These are reductions in the amount of ta...

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