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tax law, body of rules under which a public authority has a claim on taxpayers, requiring them to transfer to the authority part of their income or property. The power to impose taxes is generally recognized as a right of governments.
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 legal context.
1. Tax and tax system BASIC DEFINITIONS: Tax - a gratuitous, compulsory, non-repayable pecuniary performance made under public law in favour of the State Treasury, a voivodeship, a poviat or a gmina, resulting from statutory tax law. Subject of taxation - each party of a legally binding fiscal relationship;
Introducing legal definitions into the tax law is one of the most difficult problems of the doctrine and practice of tax law. The author formulates the thesis that the introduction of these definitions in the area of tax law should satisf the specific determinants.
The main tax legislation consists of two income tax assessment Acts, a fringe benefits tax Act and a goods and services tax Act. Tax legislation is interpreted using the doctrine of precedent, a process not used in interpretation of financial accounting standards. There are five key differences between tax concepts and accounting principles.
8 paź 2024 · taxation, imposition of compulsory levies on individuals or entities by governments. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well.
30 cze 2024 · Taxation refers to the act of levying or imposing a tax by a taxing authority. Taxes include income, capital gains, or estate.
