Tax and Third line of defence: Difference between pages

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''Tax and treasury''.
The first, second and third lines of defence are identified by the Bank of England in relation to establishing and defending fair and effective markets.


1. ''Noun.''
These 'lines of defence' are the governance and controls to protect against risks in an organisation.


A compulsory financial contribution imposed by a government to raise revenue.


Levied on the income or property of persons or organisations, on the sale price of many goods and services and on certain other transactions.
The third line of defence is an independent assurance function - the internal audit function.


Examples include ''Corporation Tax'', ''Value Added Tax'' and ''customs duty.''




2. ''Verb.''
==See also==
 
*[[First line of defence]]
To levy a tax.
*[[Second line of defence]]
 
* [[Audit]]
 
== See also ==
* [[Accruals basis]]
* [[Business in Europe: Framework for Income Taxation]]
* [[Business rates]]
* [[Capital tax]]
* [[Carbon tax]]
* [[Cash basis]]
* [[Charge]]
* [[Claims and elections]]
* [[Cliff edge]]
* [[Concession]]
* [[Corporation Tax]]
* [[Customs duty]]
* [[DEBRA]]
* [[Determination]]
* [[Direct tax]]
* [[Double taxation]]
* [[Duty]]
* [[Financial Transaction Tax]]
* [[Her Majesty’s Revenue & Customs]]
* [[Income Tax]]
* [[Indirect tax]]
* [[Inheritance tax]]
* [[Levy]]
* [[Payroll tax]]
* [[Profit after tax]]
* [[Profit before tax]]
* [[Sales Tax]]
* [[Schedular system]]
* [[Supertax]]
* [[Surcharge]]
* [[Tax base]]
* [[Tax break]]
* [[Tax capacity]]
* [[Tax compliance]]
* [[Tax computation]]
* [[Tax credit]]
* [[Tax depreciation]]
* [[Tax evasion]]
* [[Tax harmonisation]]
* [[Tax haven]]
* [[Tax planning]]
* [[Tax rate]]
* [[Tax relief]]
* [[Tax risk]]
* [[Tax ruling]]
* [[Tax shield]]
* [[Tax yield]]
* [[UK Bank Levy]]
* [[Value Added Tax]]
* [[Wealth tax]]
* [[Withholding tax]]
 
[[Category:Accounting,_tax_and_regulation]]

Revision as of 10:37, 5 August 2015

The first, second and third lines of defence are identified by the Bank of England in relation to establishing and defending fair and effective markets.

These 'lines of defence' are the governance and controls to protect against risks in an organisation.


The third line of defence is an independent assurance function - the internal audit function.


See also