Tax Authorities

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Definitions
Badges of Trade
Badges of Trade Trade Classification Tax Authorities Income Tax Commercial Activities Business Transactions
The term 'badges of trade' refers to various factors considered by tax authorities to determine whether a given set of transactions constitutes a trade or business. This classification impacts how income from these activities is taxed.
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Definitions
Tax Evasion
Tax Evasion Illegal Tax Practices Tax Avoidance Tax Liabilities Tax Authorities Financial Crimes Accounting Tax Law
Minimizing tax liabilities illegally, typically by not disclosing taxable income or providing false information to tax authorities. It contrasts with tax avoidance, which is the legal practice of reducing tax liabilities through lawful means.
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Definitions
Taxable Value
Taxable Value Assessed Valuation Property Tax Tax Liability Market Value Tax Assessors Tax Authorities
Taxable value refers to the assessed value of a property or other asset, which is used to determine the amount of a tax liability. It's often a percentage of the property's market value and is used by tax authorities to calculate the proper amount of tax due.
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