Self-assessment

Self-assessment

Self-assessment means:
the obligation of each person to determine whether he or she must file a tax return and pay a tax.

U.S. and other Developed Countries International Tax Meaning

System under which the taxpayer is required to declare the basis of his assessment (e.g. taxable income), to submit a calculation of the tax due and, usually, to accompany his calculation with payment of the amount he regards as due. The role of tax authorities is to check (perhaps in random cases) that the taxpayer has correctly disclosed his income.


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