What is a Double Taxation Agreement
Double taxation is the levying of tax by two or more countries placed on the same income, assets or financial transactions. The primary purpose of double tax agreements is to safeguard taxpayers, whether they are individuals or a corporate identity, against being taxed twice on the same income…
What is a Tax Rebate
A tax rebate is a refund on taxes that individuals or companies receive, when their tax liability is less than the taxes they actually paid. Taxpayers are frequently subjected to paying a higher amount in tax than the one they are due to pay, mainly because they might not be registered under the correct tax code or bracket…
What is Stamp Duty
Stamp duty is a type of tax levied on documents in order to denote that they are legally effective. Usually the stamp duty is in form of a physical stamp however, due to technological advancements, stamp duty is not a necessarily denoted with the use of a physical stamp…
What is capital gains tax
Capital gains tax refers to a type of tax that is imposed on individuals and companies who acquire profit from selling or disposing of their assets. The capital gains tax rate varies from one jurisdiction to another, as it is based on the particular country’s regulations with regards to taxation…
What is interest
Interest is a fee that money borrowers have to pay to the lender, as a form of compensation for the use of the funds. Banking and other financial institutions usually charge a specific percentage of interest on the amount of money they lend. Assets that are typically lent with interest are money, shares and consumer goods through hire purchase…
What are shareholders
A shareholder is any person, business entity or other institution that owns at least one share in a company. Shareholders can be also referred to as stockholders. Shareholders only own shares; they do not become owners of the company unless they are the biggest shareholding member…
What is a dividend
A dividend is a payment made by a business entity to its shareholder members. When a company makes a profit or surplus, that income can be either reinvested in the company, or it can be distributed to shareholders. Most business entities though, offer dividends to their shareholders…
Types of Liquidation
Liquidation is the procedure by which a business entity terminates its operation and the assets and property of the company are distributed accordingly. There are two types of liquidation; compulsory and voluntary liquidation…
What are shares
Business entities usually divide their capital into equal units which are called shares. Individuals who purchase shares are referred to as shareholders and each individual share represents their degree of ownership in regards to financial assets…
What is insolvency
Insolvency is when your business is unable to pay its debts when they are due. This means that your company has negative assets and has entered into liquidation – thus filing for bankruptcy under the appropriate law. Many newly formed businesses within…
