INCOME TAX Definition

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INCOME TAX is a tax paid on money made or profit realized from employment, business, or capital.

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INTERPERIOD EQUITY is a government's obligation to disclose whether current-year revenues were sufficient to pay for current-year benefits, or did current citizens defer payments to future taxpayers, i.e. it refers to whether current-year revenues are sufficient to pay for the services provided that year and whether future taxpayers will be required to assume burdens for services previously provided.

LISTED INVESTMENTS are those investments which are listed or quoted on a stock exchange.

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