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Tax Exemption
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items. Examples include exemption of charitable organizations from property taxes and income taxes, veterans, and certain cross-border or multi-jurisdictional scenarios. Tax exemption generally refers to a statutory exception to a general rule rather than the mere absence of taxation in particular circumstances, otherwise known as an exclusion. Tax exemption also refers to removal from taxation of a particular item rather than a deduction. International duty free shopping may be termed "tax-free shopping". In tax-free shopping, the goods are permanently taken outside the jurisdiction, thus paying taxes is not necessary. Tax-free shopping is also found in ships, airplanes and other vessels traveling ...
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Charitable Organizations
A charitable organization or charity is an organization whose primary objectives are philanthropy Philanthropy consists of "private initiatives, for the Public good (economics), public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material gain, ... and social well-being (e.g. education Education is the process of facilitating learning, or the acquisition of knowledge, skills, value (ethics), values, morals, beliefs, and habits. Educational methods include teaching, training, storytelling, discussion and directed resea ...al, religious Religion is a social system, social-cultural system of designated religious behaviour, behaviors and practices, morality, morals, beliefs, worldviews, religious text, texts, shrine, sanctified places, prophecy, prophecies, ethics in religion, ... or other activities serving the public interest The public interest is "the welf ...
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Saul
Saul (; he, שָׁאוּל – ''Šāʾūl'', gr, Σαούλ, meaning "asked for, prayed for"), according to the Hebrew Bible The Hebrew Bible or Tanakh (; Hebrew: , or ), is the Biblical canon, canonical collection of Hebrew language, Hebrew scriptures, including the Torah. These texts are almost exclusively in Biblical Hebrew, with a few passages in Biblical Aramaic ..., was the first king of the United Kingdom of Israel (Israel and Judah). His reign, traditionally placed in the late 11th century BCE, supposedly marked a transition from a tribal society to statehood. Saul's life and reign are described primarily in the Hebrew Bible. According to the text, he was anointed by the prophet Samuel and reigned from Gibeah. He fell on his sword (committing suicide) to avoid capture in the battle against the Philistines The Philistines were an ancient people who lived on the south coast of Canaan from the 12th century BC until 604 BC, when their polity, after having ...
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Tax Shelter
Tax shelters are any method of reducing taxable income resulting in a reduction of the payments to tax collecting entities, including state and federal governments. The methodology Methodology is "'a contextual framework' for research, a coherent and logical scheme based on views, beliefs, and values, that guides the choices researchers r other usersmake". It comprises the theoretical analysis of the body of methods ... can vary depending on local and international tax laws. Types of tax shelters Some tax shelters are questionable or even illegal: *Offshore companies. Due to differing tax rates and legislation in each country, tax benefits can be exploited. Example: If Import Co. buys $1 of goods from India India (Hindi: ), officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by population, second-most populous country, the List of countries and dependencies by area, seventh-largest ... and sells for $3, ...
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Tax Resistance
Tax resistance is the refusal to pay tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law, a legal person is any person A person (plural people or persons) is a being that has certain capacities or attr ... because of opposition to the government that is imposing the tax, or to government policy, or as opposition to taxation in itself. Tax resistance is a form of direct action . A general strike is an example of confrontational direct action. Direct action originated as a political activism, activist term for economic and political acts in which the actors use their power (e.g. economic An economy (from Greek la ... and, if in violation of the tax regulations, also a form of civil disobedience. Examples of tax resistance campaigns include those advocating home rule, such as the Salt March led by Mahatma Gandhi Mohandas Karamchand Gandhi (; 2 October 1869 – 30 January 1 ...
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Tax Treaty
Many countries have entered into tax treaties (also called double tax agreements, or DTAs) with other countries to avoid or mitigate double taxation. Such treaties may cover a range of taxes including income taxes, inheritance taxes, value added taxes, or other taxes. Besides bilateral treaties, multilateral treaties are also in place. For example, European Union The European Union (EU) is a political and economic union of Member state of the European Union, member states that are located primarily in Europe. Its members have a combined area of and an estimated total population of about 447million ... (EU) countries are parties to a multilateral agreement with respect to value added taxes under auspices of the EU, while a joint treaty on mutual administrative assistance of the Council of Europe The Council of Europe (CoE) (french: Conseil de l'Europe, CdE) is an international organization, international organisation founded in the wake of World War II to uphold Eur ...
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Sales Taxes In The United States
Sales taxes in the United States are taxes placed on the sale or lease of goods and services in the United States The United States of America (USA), commonly known as the United States (U.S. or US), or America, is a country Contiguous United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal di .... Sales tax is governed at the state level and no national general sales tax A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a govern ... exists. 45 states, the District of Columbia, the territories of Puerto Rico, and Guam impose general sales taxes that apply to the sale or lease of most goods and some services, and states also may levy selective sales taxes on the sale or lease of particular goods or services. States may grant ...
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Gift Tax
In economics, a gift tax is the tax on money or property that one living person gives to another. Items received upon the death of another are considered separately under the inheritance tax An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. International tax law distinguishes between an es .... Many gifts are not subject to taxation because of exemptions given in tax law Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect taxes in a l ...s. The gift tax amount varies by jurisdiction, and international comparison of rates is complex and fluid. Countries without gift tax * Argentina Argentina (), officially the Argentine Republic ( es, link=no, Rep ...
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Estate Tax
An inheritance tax is a tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law, a legal person is any person A person (plural people or persons) is a being that has certain capacities or attr ... paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. International tax law distinguishes between an estate tax and an inheritance tax—an estate tax is assessed on the assets of the deceased, while an inheritance tax is assessed on the legacies received by the estate's beneficiaries. However, this distinction is not always observed; for example, the UK's "inheritance tax" is a tax on the assets of the deceased, and strictly speaking is therefore an estate tax. For historical reasons, the term death duty is still used colloquially (though not legally) in the UK and some Commonwealth countrie ...
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Formulary Apportionment
Formulary apportionment, also known as unitary taxation, is a method of allocating profit earned (or loss incurred) by a corporation or corporate group to a particular tax jurisdiction in which the corporation or group has a taxable presence. It is an alternative to separate entity accounting, under which a branch or subsidiary within the jurisdiction is accounted for as a separate entity, requiring prices for transactions with other parts of the corporation or group to be assigned according to the arm's length standard commonly used in transfer pricing. In contrast, formulary apportionment attributes the corporation's total worldwide profit (or loss) to each jurisdiction, based on factors such as the proportion of sales, assets or payroll in that jurisdiction. When applied to a corporate group, formulary apportionment requires combined reporting of the group's results. The parent and all of its subsidiaries are viewed as though they were a single entity (''unitary combination'' ...
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International Tax
International taxation is the study or determination of tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law, a legal person is any person A person (plural people or persons) is a being that has certain capacities or attr ... on a person or business subject to the tax law Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect taxes in a l ...s of different countries, or the international aspects of an individual country's tax laws as the case may be. Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorial income. The manner of limitation generally takes the form of a territorial, residence-based, or exclusionary system. ...
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Tekalif-i Orfiye
Tekalif-i orfiye was a type of taxation in the Ottoman Empire The Ottoman Empire (; ota, دولت عليه عثمانيه ', literally "The Sublime Ottoman State"; Modern Turkish: ' or '; french: Empire ottoman) (''Osmanean Têrut´iwn'', meaning "Ottoman Authority/Governance/Rule"), Օսմանյան .... Tekalif-i orfiye was a blanket terms for several different ad hoc charges which were, initially, extraordinary taxes raised in war-time. They were variously paid in cash or in kind, and rates could vary (to an extent), depending on the community's ability to pay. By the time of the Tanzimat reforms, tekalif-i orfiye included ninety different excise taxes. Tekalif dues became high in the 17th century. However, the Ottoman Empire's complex web of tax exemptions also touched on tekalif; taxpayers could be exempted for public service (for instance, by running a hostel for pilgrims), and sometimes a district's could be exempted due to exceptional hardship (for instance, if ...
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Avarız
Avarız was a property tax in the Ottoman Empire The Ottoman Empire (; ota, دولت عليه عثمانيه ', literally "The Sublime Ottoman State"; Modern Turkish: ' or '; french: Empire ottoman) (''Osmanean Têrut´iwn'', meaning "Ottoman Authority/Governance/Rule"), Օսմանյան ..., an annual cash tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law, a legal person is any person A person (plural people or persons) is a being that has certain capacities or attr ... paid by households registered in a defter.Taylor, M., 2010. Some Figures for the Urban and Rural Populations of Damascus Province in the Late Seventeenth Century. Osmanlı Araştırmaları, 35(35). pp.215-216 History In early Ottoman history, the state depended on the timar system of feudal dues; but over time - especially due to the need to hire professional soldiers rather than peasants serving a feudal military ...
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