Tax Benefit - Business concept of the day
Tax & Auditing
333 week ago — 1 min read
Definition: A tax benefit is an allowable deduction or credit on a tax return intended to reduce a taxpayer's burden while typically supporting certain types of commercial activity. A tax benefit allows some type of adjustment benefiting a taxpayer's tax liability.
Example: The Government's tax benefit offered to those who invested in pension funds was intended to improve financial security in the population.
Business Insight: By reducing the tax burden for payees on certain items like pension funds or healthcare the Government encourages people to invest in activities that will be off benefit to society as a whole in the future.
Posted by
GlobalLinker StaffWe are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.
View GlobalLinker 's profile
SME Inspirations
Other articles written by GlobalLinker Staff
Declutter Your Business the Marie Kondo Way
33 week ago
Most read this week
Comments
Please login or Register to join the discussion