UK Accounting Glossary
Process of instituting a charge against a legal entity’s person, property or activity for the support of government. (For example, income taxes, sales taxes, duties and levies.)
One of the greatest problems facing taxation in the French agricultural sector is its lack of elasticity and ability to adapt to local conditions.
Money had to be raised by taxation, and at a meeting of the States General the Governor proposed an immediate tax of 2% on all property, a tax of 6% on transfers of real estate and a tax of 10% on the sale of all articles of commerce; the latter of the two taxes to be granted in perpetuity.
Companies have directly benefited from a low rate of taxation.
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This glossary post was last updated: 26th December 2018.