Search results for keyword: exemptions
WTO exception clause
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WTO LDC Exemption
Introduction
The WTO (World Trade Organization) is composed of 164 member countries and is dedicated to the establishment of open, transparent, and fair trading conditions among nations across the globe. One of the main focuses of the WTO is to support the growth of least dev......
1042 
Sophia
Guaranteed and signed
Payment Protection Insurance (PPI) is one of the most important elements of consumer protection in the United Kingdom. It is a financial product which provides cover to a customer when their income has been affected by an unforeseen event such as ill health, a job loss, or the death of a dependant......
Product-to-Product Tax Reduction
Tax Reduction in Product
Tax reduction, or tax exemption, is becoming increasingly important as a means of promoting economic growth. This is especially true in the manufacturing sector, where competition continues to intensify as globalization continues. As corporations strive to remain competiti......
International Double Taxation
Double Taxation
Double taxation is a tax principle referring to income taxes paid twice on the same source of income. It can occur when income is taxed at both the corporate level and personal level. Double taxation also occurs in international trade or investment when the same income is taxed in ......
Duty refund
Customs Duty Exemption
Customs duties are taxes charged by a government on goods that are imported or exported. Customs duties are imposed on imported goods as a way to protect domestic industries from foreign competition. In some other countries, they are also known as import duties, tariffs, or......
export processing zone
Introduction
Export Processing Zone (EPZs) is an area set up by a country to attract foreign investment and stimulate industrial growth. The EPZs offer a range of incentives designed to attract foreign investment. These include tax exemptions, reduced tariffs, and other financial benefits for bus......
Explanation of tax terms
Tax Terminology Definition
Tax terminology can be a confusing subject for most people, especially those who are unfamiliar with the nuanced terms used within the field. Tax terminology is necessary to understand not just the basic laws surrounding taxation, but the deeper implications of each and......
preferential tariff
Special Tax Benefits
Taxes can be a significant burden on businesses, individuals, and families. That’s why governments around the world often offer special tax benefits to incentivize investments and encourage economic growth. These benefits can range from income-tax deductions to exemptions fr......
United Nations Convention on the International Multimodal Transport of Goods
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The United Nations Convention on International Multimodal Transport of Goods (also known as the “Convention on Multimodal Transport” or “CMT”) is an international agreement pertaining to the transport of goods by means of one or more modes of transport (e.g., inland water, sea, air, railway ......
Most Favored Nation Tax Rate
Tax is one of the important sources of government revenue, and the headline tax burden has an immediate impact on citizens’ pockets. Looking around the world, for a long time, economists have deemed a 15-25 percent flat tax as optimal, providing a range that strikes an acceptable balance between ......
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