Taxation
tax/estate tax. *corporation tax * national insurance/social insurance
Indirect taxes * VAT Value-added tax,/turnover tax, goods and services tax-GST. *Sales taxes-
k/m *excise tax/excise duties *tariffs -tollimaks
Loopholes, avoidance- legal ways of paying less tax.
Tax allowance- part of income which a person is allowed to earn and not to pay tax on.
Taxable income- part of income on which person has to pay tax.
Tax-deductibe- smth that can be subtraced from income before tax is calculated on.
Customs duty- tax paid on goods brought or taken out of the country.
Excise duty- tax on certian goods on a country, e.g. eith the purpose of discourage people from
consuming them , such as cigarettes and alcohol.
Wealth tax- tax on money or property or investments owned by a person.
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