Double entry and Double taxation: Difference between pages

Revision as of 21:04, 11 August 2013

Tax.

Taxes paid twice, once abroad where income is earned and a second time in the United Kingdom, if the overseas company is UK owned.

A principle of tax law is that double taxation should normally be avoided.

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+''Tax.''
-''Accounting''
+Taxes paid twice, once abroad where income is earned and a second time in the United Kingdom, if the overseas company is UK owned.
-The dual aspect concept that every accounting transaction has two sides.
-Therefore the balance sheet should always remain in balance.
-For example, if services are sold by a company for cash, the company's Sales figure increases AND its Cash increases.
-Taking another example, if a company borrows money, its Cash increases AND its Liabilities (to repay the money in the future) also increase.
-This system is sometimes known as 'double entry bookkeeping'.
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-An error resulting from the inappropriate duplication or inappropriate repetition of an entry or part of an entry, in a financial information system or elsewhere.
+A principle of tax law is that double taxation should normally be avoided.
 == See also ==
-* [[Balance sheet]]
+* [[Double taxation relief]]
-* [[Book entry]]
+* [[Double taxation treaties]]
-* [[Book keeping]]
+* [[Tax ]]
-* [[Credit]]
-* [[Debit]]
-* [[Double counting]]
-* [[Journal entry]]
-* [[Off balance sheet finance]]
-[[Category:Accounting,_tax_and_regulation]]
-[[Category:Compliance_and_audit]]