* Tax Deduction Account Number, issued by Indian Income Tax Department for deduction of tax at source.

The Tax Reform Act of 1986 phased out the deduction for IRA contributions among higher-earning workers who are covered by an employment-based retirement plan.

In the Tax Reform Act of 1986 the U. S. Congress introduced the limitation ( under ) on the deduction of passive losses and the use of passive activity tax credits.

Additionally, EGTRRA increased the per-child tax credit and the amount eligible for credit spent on dependent child care, phased out limits on itemized deductions and personal exemptions for higher income taxpayers, and increased the exemption for the Alternative Minimum Tax, and created a new depreciation deduction for qualified property owners.

The main advantage of making pre-tax contributions is the Federal Insurance Contributions Act tax ( FICA ) and Medicare Tax deduction, which amounts to a savings of 7. 65 % ( 5. 65 % for the employee in 2011 due to Social Security rate holiday ) each to the employer and employee ( subject to limits of the Social Security Wage Base ).

# REDIRECT Tax deduction

Tax exemption also generally refers to removal from taxation of a particular item or class rather than a reduction of taxable items by way of deduction of other items ( i. e., a deduction ).

* amendments to the Income Tax Act to allow a greater deduction for child care costs

Tax authorities in India have frozen the company's accounts due to the deduction of income taxes that deducted the salaries of their employees that were not forwarded to government since March 2009.

In addition to extending the availability of bonus depreciation in general, the Tax Relief Act provided for a new 100 percent depreciation deduction for qualified property that is acquired and placed into service by the taxpayer between September 8, 2010, and January 1, 2012.

Tax break is a slang term referring to any item which reduces tax, including any tax exemption, tax deduction, or tax credit.

The Act created the Energy Efficient Commercial Buildings Tax Deduction, a special financial incentive designed to reduce the initial cost of investing in energy-efficient building systems via an accelerated tax deduction under section § 179D of the Internal Revenue Code ( IRC ) Many building owners are unaware that the Act of 2005 includes a tax deduction (§ 179D ) for investments in " energy efficient commercial building property " designed to significantly reduce the heating, cooling, water heating and interior lighting cost of new or existing commercial buildings placed into service between January 1, 2006 and December 31, 2013.

* Production Sharing contract ( PSA )-A PSA is more complex than a Tax / Royalty system-The companies bid on the percentage of the production that the host government receives ( this may be variable with the oil price ), There is often also participation by the Government owned National Oil Company ( NOC ).

In 1999 the National Board of Revenue in Bangladesh ( NBR ) negotiated with cigarette producing firms a minimum amount of Value Added Tax ( VAT ) that should be paid per month even though VAT is an ad valorem tax, that is to say of variable yield.

The owner of a public relations firm owed no income tax on payments he received from a client company and `` kicked back '' to the company's advertising manager, the Tax Court ruled.

* Tax Day, the official deadline for filing an individual tax return ( or requesting an extension ).

* Tax holiday ( or tax abatement ) is used in the field of economic development to encourage businesses to relocate, expand, and more currently to retain facilities in a community

The notoriously corrupt Armenian State Revenue Committee ( housing both the Armenian Customs Service and the Armenian Tax Service ) helps maintain import monopolies as well as aid tax evasion.

In 1803, the inhabitants signed a petition addressed to the Jamaican governor asking him to grant them a tax exemption from the " Transient Tax on Wreck Goods ".

* Chief Tax Officer or CTO – high-level corporate officer responsible for the tax function ( compliance, accounting and planning ) within a company.

Tax revenues declined as republic and local governments withheld tax revenues from the central government under the growing spirit of regional autonomy.

* Voted YES on eliminating the Estate Tax (" death tax ").

The constitutionality of our income tax system — including the role played within that system by the Internal Revenue Service and the Tax Court — has long been established.

# Tax planning: typically the income tax is the single largest expense in a household.

Value Added Tax is a consumption tax administered in Ghana.

As a result of having made a commitment in accordance with the OECD's 2001 Progress Report on the OECD's Project on Harmful Tax Practices, Gibraltar is not included in the OECD's list of uncooperative tax havens.

Following Gibraltar's signing of 12 additional Tax Information Exchange Agreements ( TIEAs ), as of October 2009, with jurisdictions including the UK, US and Germany, to sum 13, Gibraltar is currently listed in the OECD " white list ", and is considered a jurisdiction that has substantially implemented the tax standard.

Netherlands Tax Law provides a number of tax effective opportunities for Intellectual Property and royalties related revenue.

The Income Tax Law of 1928 introducing income tax was the first law drafted entirely in English.

* 1942 – The Australian Federal Government becomes the sole collector of income tax in Australia as the State Income Tax is abolished.

His legacy includes the Kemp – Roth Tax Cut of the 1980s, also known as the first of two " Reagan tax cuts.

Back in the United States, Henry George spearheaded the Single Tax Movement, which sought socialism via progressive taxation, with tax only on natural resources.

Tax revenues declined because republic and local governments withheld tax revenues from the central government under the growing spirit of regional autonomy.

Reagan followed his 1981 tax cuts with the Tax Reform Act of 1986, which sought to eliminate deductions, lower marginal rates for the wealthy, and significantly raise taxes on those earning less than $ 50, 000 In 1982 Reagan agreed to a rollback of corporate tax cuts and a smaller rollback of individual income tax cuts.

With the Tax Reform Act of 1986, Reagan and Congress sought to raise taxes on lower incomes, eliminate many deductions, and reduce tax rates on the wealthy.

Tax efficient supply chain management is a business model which considers the effect of tax in design and implementation of supply chain management.

He voted for a sunshine ordinance that makes it much easier to determine how taxpayer dollars are spent on Tax Increment Financing ( TIF ) districts.

If you elect to use the Standard Deduction or the Tax Table, and later find you should have itemized your deductions, you may do so by filing an amended return within the time prescribed for filing a claim for refund.

The same is true if you have itemized your deductions and later decide you should have used the Standard Deduction or Tax Table.

These deductions may not be claimed if you elect to use the Standard Deduction or Tax Table.

Jersey's finance industry featured in a BBC Panorama documentary, titled " Tax me if you can ", broadcast of 2 February 2009.

The Question on the ballot was: Are you in favour of extinguishing the HST ( Harmonized Sales Tax ) and reinstating the PST ( Provincial Sales Tax ) in conjunction with the GST ( Goods and Services Tax )?

The Question on the ballot was: Are you in favour of extinguishing the HST ( Harmonized Sales Tax ) and reinstating the PST ( Provincial Sales Tax ) in conjunction with the GST ( Goods and Services Tax )?

"' The way you get rich in this world is not by working hard ,' said Marty Sullivan A. Sullivan, an economist and a contributing editor to Tax Analysts.