INHERITANCE TAX Definition

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INHERITANCE TAX is a tax charged on the passing of wealth from one person to another, either during life or at death.

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LEAD-TIME is the time between the initial stage of a project or policy and the appearance of results, for example, the long lead-time in oil production because of the need for new field exploration and drilling.

NON-EQUITY SHARE is a share in an entity that a. evidences indebtedness of the entity to the holder of the share, and b. does not represent an equity interest in the entity.

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