Business

Exchange Control This is a system in which all the foreign currencies earned on account of exports or services rendered to foreigners are credited to…

A progressive tax is a tax in which the tax rate increases as the taxable amount increases. It imposes a higher rate on the rich…

Proportional Tax is an income tax system that levies the same percentage tax to everyone regardless of income. It is a tax imposed so that…

A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. It is…

In economics, the Laffer curve illustrates a theoretical relationship between rates of taxation and the resulting levels of the government’s tax revenue. It is based…

Concept of Goodwill The name and fame of an organization can be termed as goodwill. It is an intangible asset associated with the purchase of…

Tax reform is the process of changing the way taxes are collected or managed by the government and is usually undertaken to improve tax administration…

Entrepot Trade means importing goods from a foreign country with the purpose/motive of exporting them to another country at a higher price. It is a…

The tax shift is the passing of the tax burden from one economic agent to another. It is a change in taxation that eliminates or…

Goodwill is defined as “the present value of a firm’s anticipated excess earnings”. Goodwill in accounting is an intangible asset that arises when a buyer acquires…

An endorsement is an act of authorizing another person to receive payment of a negotiable instrument. It is the action of endorsing someone or something.…

A supply shock is an event that suddenly increases or decreases the supply of a commodity or service, or of commodities and services in general.…