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Tooltip Tags: taxation

taxpayer

One that pays or is liable for a tax. (source: http://www.merriam-webster.com/dictionary/taxpayer)

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tax reform

The process of changing the way taxes are collected or managed by the government. (source: http://en.wikipedia.org/wiki/Tax_reform)

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tax refund

A refund on taxes when the tax liability is less than the taxes paid. (source: http://en.wikipedia.org/wiki/Tax_refund)

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tax relief

A reduction in the amount of tax a person or company has to pay. (source: http://www.thefreedictionary.com/tax+relief)

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tax shield

A strategy of reducing of income tax liabilities by taking allowable deductions from taxable income, such as payments for mortgage interest, medical expenses and charitable

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tax system

A legal system for assessing and collecting taxes. (source: http://www.thefreedictionary.com/tax+system)

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tax year

The year during which one’s taxable income is considered. That is, the tax year is any 12-month period during which a government calculates one’s tax

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tax incentive

Deduction, exclusion, or exemption from a tax liability, offered as an enticement to engage in a specified activity (such as investment in capital goods) for

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tax liability

Tax liability is the payment owed by an individual, business, or other entity to a federal, state, or local tax authority. (source: investopedia.com )

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tax office [AEAT]

A tax office is a governmental office engaged in collection of revenue through taxes. (source: http://standards.phorio.com/?t=definition&code=3817677034)

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