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Taxes

Base cost

"Good morning class, today we will be discussing an important concept in finance known as 'cost basis'. This term is used in capital gains tax legislation to refer to the original cost of an asset to its owner. In simpler terms, it is the amount of money paid to acquire an asset. Understanding this concept is crucial as it directly affects the calculation of capital gains tax. Let's dive deeper into this topic and explore its implications."

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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Final tax

Tax treaties play a crucial role in international taxation by limiting the withholding tax imposed by the country of source. This means that the rate applied in a treaty cou...

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Current assets

In the realm of finance, we often come across terms such as cash, accounts receivable, inventory, and other assets. These are assets that hold the potential to be converted ...

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Small traders, special tax regime for

Small traders in several countries are often subject to a distinct tax system, especially when it comes to value-added tax (VAT). This may involve exemptions, reduced tax ra...

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