Review of Short Phrases and Links|
This Review contains major "Tax"- related terms, short phrases and links grouped together in the form of Encyclopedia article.
- A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state.
- A tax is an involuntary fee or, more precisely, "unrequited payment", paid by individuals or businesses to a government (central or local).
- The tax is an annual tax and is reimposed each year in the annual Finance Act.
- The tax is based on the value of that property.
- The tax is a progressive tax with the percentage of tax increasing as the net taxable income of a taxpayer increases.
- The HMRC are responsible for governing UK tax affairs.
- In some tax systems, personal earnings may be strictly defined where labor, skill, or investment is required (e.g.
- The "tax net" refers to the types of payment that are taxed, which included personal earnings ( wages), capital gains, and business income.
- Business income is taxed at a flat rate of 33% for Indian companies and 40% for foreign companies. Dividends are income tax free to shareholders.
- Various income tax systems exist, with varying degrees of tax incidence.
- Personal income tax is often collected on a pay-as-you-earn basis, with small corrections made soon after the end of the tax year.
- Income tax systems will often have deductions available that lessen the total tax liability by reducing total taxable income.
- Other tax systems may isolate the loss, such that business losses can only be deducted against business tax by carrying forward the loss to later tax years.
- A progressive tax taxes differentially based on how much has been earned.
- Pitt's income tax was levied from 1799 to 1802, when it was abolished by Henry Addington during the Peace of Amiens.
- The income tax was reintroduced by Addington in 1803 when hostilities recommenced, but it was again abolished in 1816, one year after the Battle of Waterloo.
- Encyclopedia of Keywords > Society > Economics > Money
- Encyclopedia of Keywords > Society > Economics
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