Taxes based on income are imposed at the federal, most state, and some local levels within the
United States. The
tax systems within each jurisdiction may define taxable income separately.
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tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its ...
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OECD in interpreting international
tax terms, for example, in the
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tax shelter is a vehicle used by
taxpayers to minimize or decrease
their taxable incomes and, therefore,
tax liabilities.
Tax shelters can range from investments or investment accounts that ...
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