Deductions: Difference between revisions
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#Amount of money subtracted from an account or from any amount payable/receivable, to pay for services, goods or taxes. | |||
#''Tax.'' Amounts for which tax relief is given. Most often by subtracting the deductions from (otherwise) taxable profits, before calculating the amount of tax payable on the net taxable profits. | |||
Amounts for which tax relief is given. Most often by subtracting the deductions from (otherwise) taxable profits, before calculating the amount of tax payable on the net taxable profits. | |||
== See also == | == See also == | ||
* [[Tax credit]] | * [[Tax credit]] | ||
* [[Tax relief]] | * [[Tax relief]] | ||
Revision as of 15:29, 5 August 2013
- Amount of money subtracted from an account or from any amount payable/receivable, to pay for services, goods or taxes.
- Tax. Amounts for which tax relief is given. Most often by subtracting the deductions from (otherwise) taxable profits, before calculating the amount of tax payable on the net taxable profits.
