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Deferment of tax

Let's discuss the concept of tax deferral, which refers to the postponement of tax payments from the present year to a future year. Many countries have implemented laws to prevent taxpayers from using tactics to defer taxes that are not in line with legal regulations. An example of such legislation is the Controlled Foreign Corporation (CFC) legislation. This ensures that individuals do not exploit loopholes in the system to delay paying taxes.

Personal allowances

This can reduce the taxable income and thus, the amount of tax owed. As we delve into the realm of personal finance, it is crucial to understand the concept of personal all...

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Multi-stage tax system

Indirect tax is a type of tax that is imposed on goods as they move through various stages of production and distribution. This means that the tax is charged not just once, ...

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Valuation principles

Understanding the principles of tax law when it comes to valuing business and non-business assets, as well as inventory, is crucial for any financial professional. This know...

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Estate duty/tax

Death duties, also known as inheritance tax or estate tax, are taxes that are imposed on the transfer of assets after a person's death. This tax is calculated based on the ...

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