The act of laying a tax, or of imposing taxes, as on the subjects of a state, by government, or on the members of a corporation or company, by the proper authority; the raising of revenue; also, a system of raising revenue.
a compulsory payment levied by a government on its citizens to finance its expenditure. It can either be levied on income or as a surcharge on prices (sales tax). Income tax is a direct tax (everyone who earns a certain amount has to pay it); a sales tax is indirect tax (affects only those who buy the taxed goods.)
The laws related to compulsory financial contributions made to the government by companies and corporations. Also refers to ways in which companies can establish tax efficient corporate structures, and the tax implications of corporate finance.
The process by which a government or municipal quasi-public body raises monies to fund its operation. The impact an investment has on the investor's liability for the payment of federal, state, and local taxes.
Trusts can assist in maximising tax efficiency, reducing and controlling the impact of personal taxes. Trust A trust is an arrangement whereby a person (the settlor) transfers the legal ownership of assets (the trust fund) to another person (the trustee) who then manages and holds the assets for the benefit of others (the beneficiaries) who may include the settlor.
One of nine areas of work within the Mentor Program. It refers to work performed by accountants involving designing, operating and evaluating systems of taxation management, in rapidly changing and globally competitive contexts.