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CGT

It stands for capital gain tax; a tax that an entity pays on capital gains- that is, gains arising from...

Capital Gain Tax

A tax that an entity pays on capital gains- that is, gains arising from selling an asset/ investment that has...

Ability to Pay (Taxation)

A taxation principle which maintains that the amount of taxes should vary with the levels of wealth or income. That...

ACRS

It stands for accelerated cost recovery system; a system of asset depreciation, for tax purposes, that determines the rate of...

Accelerated Depreciation

A system of depreciation that entails higher depreciation expenses in the early years of the life of an asset, for...

Accelerated Cost Recovery System

A system of asset depreciation, for tax purposes, that determines the rate of appreciation for an entity's assets. It involves...

Tax Risk

The risk that arises from a business' inability to understand the tax environment(s) in which it operates. This, in turn,...