Tax Accounting
Tax accounting or ‘accounting for taxes’ is concerned with calculating income and profits. It helps companies know tax liability and net profit after taxes.
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What is Goods and Services Tax (GST)?
Goods and Services Tax (GST) is a broad indirect tax charged on the supply of goods and services. It was brought in to provide a simplified taxation system by c
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5 Legit Expenses That Reduce Tax in Books of Accounts
Tax planning is an important part of financial management for companies and individuals. One of the best means of minimisng tax burdens legally is claiming vali
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What is Securities Transaction Tax (STT)?
STT can be defined as a tax imposed on the purchase and sale of securities in the financial markets. Its primary role is to regulate and monitor securities tran
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Differences between management and tax accounting
Financial accounting and reporting are only part of the broad field of accounting. Other significant kinds of accounting include management accounting and tax a
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What is the Meaning of the Ad Valorem?
Ad valorem is a Latin phrase meaning “according to value.” In essence, it is used to describe a tax levied based on the value of the item being taxe