A progressive tax progresses to higher tax rates as taxable income increases. Individuals with lower incomes are taxed at lower rates than those with higher incomes. Progressive taxes exist so that the burden of paying for government services, oversight, and infrastructure doesn’t fall disproportionately on those earning lower incomes. The top earners are taxed more […]
Category Archives: Bookkeeping
The trade discount is the exemption of value from the catalog price as per terms by the seller to the purchaser by the time of sale. Prepare the purchase subsidiary book of Unreal Pvt Ltd. from the following details. It also helps in audit facilitation by providing the data needed by auditors. Businesses usually purchase […]