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Minimum tax

Corporations in some countries are subject to an annual tax, regardless of their profitability. This is known as a minimum tax or flat tax. It is a fixed amount that businesses must pay to the government every year, regardless of their financial performance. This type of tax is designed to ensure that all companies contribute to the economy, even if they are not making a profit. It is an important concept to understand in the world of finance, as it impacts the financial planning and decision-making process for corporations.

Sham transaction

A tax strategy often utilized by companies, a transaction without substance lacks any real economic or business purpose and is designed solely for the purpose of minimizing ...

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Imputation system

In finance, we often come across the term "imputation system". It refers to a tax system where a portion of the tax paid by a company on its profits is offset against the ta...

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Substance over form doctrine

Tax authorities have the authority to disregard the legal structure of an arrangement and instead focus on its true essence. This is known as the substance over form doctrin...

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Estimated assessment

When it comes to income tax, it is important to keep accurate records in order to determine the amount of tax that is due. This is especially crucial for small traders, who ...

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