Tax

Category: T

  • Tax Haven

    Tax Haven means:a jurisdiction that allows transactions to take place in conditions of extreme secrecy that may allow taxpayers to avoid taxation. Tax haven in the “classical” sense refers to a country which imposes a low or no tax, and is used by corporations to avoid tax which otherwise would …

  • Thin Capitalization

    Thin Capitalization means:capitalization derived primarily by loans from the shareholders of a corporation rather than by stock investment. A company or corporation is said to be “thinly capitalised” when its equity capital is small in comparison to its debt capital. The main tax advantage attem…

  • Transportation Tax

    About Transportation Tax: Tax levied on transports (like vehicles, ships and aircraft) using public highways, rivers, and airports maintained by the government. For Transportation Fringe Benefit, see qualified transportation fringe….

  • Turnover Tax

    About Turnover Tax: General term used to refer to the different forms of consumption and sales taxes. Turnover is the volume of business of an enterprise as set forth in the profit and loss account. It is usually measured by reference to the gross receipts, or gross amounts due, from the sale of goo…

  • Transitional Rules

    The Transitional Rules are. interim rules that apply while a tax provision is being phased in or out. For example, the consumer (personal) interest deduction was phased out gradually from 1987 through 1990….

  • Tax Wedge

    Tax Wedge means, in economics, an effect of taxes that may inhibit a certain result. For example, if a tax on luxury cars results in selling 10% fewer cars, the tax has produced a wedge between the economic desires of producers and those of consumers….

  • Terminable Interest

    Terminable Interest means (see more about entries related to interest in the U.S. here) interest that will fail with the passage of time or with the occurrence of an event or contingency. Terminable interest is normally ineligible for the estate tax marital…

  • taxable interest income

    taxable interest income means (see more about entries related to interest in the U.S. here) Interest income that is subject to income tax. All interest income is taxable unless specifically excluded. State Income T…

  • Transfer Tax

    Transfer Tax means:the tax paid on the passing of title to property or to a valuable interest.U.S. and other Developed Countries International Tax MeaningTax levied on the transfer of goods and rights, e.g. purchase and/or sale of securities and immovable property….

  • Tax Treaty

    Tax Treaty means:a treaty negotiated between the United States and another country to avoid double taxation and to prevent tax evasion. A tax treaty may be titled a Convention, Treaty or Agreement. Former IRC (check if this IRC provision…