GENERAL SOCIO-ECONOMIC AWARENESS ....
1.TARIFF:
It is the duty or tax which is charged by a country on its import from other countries,a custom duty.
2.TAX:
A compulsory payment to government against which there is no quid pro quo.
3.TAX AVOIDANCE:
Loopholes in tax laws used by tax payers to avoid tax.
4.TAX BREAK:
A situation which is providing some relief from tax,in whole or part.
5.TAX EVASION:
Illegal escape from tax payment; balack market incomes incomes result from tax evasion.
6.TAX INCIDENCE:
Ultimate burden of tax.
7.TAX SHIFTING:
refers to the phenonmenon whereby those or whom taxes are leveid are able to pass the burden either partly or fully on to others.
8.TIME DEPOSIT:
It refers to an interest bearing deposit over a fixed period of time.
9.TROTTING INFLATION:
When prices rise moderatetly and the annual inflation is a single digit, it refers to trotting inflation.
10.TERTIARY SECTOR:
The service and commerce portion of an economy.Example of the services include repair and maintainance or capital goods,haircuts,public administration,medical care,transport and communications,teaching.
11.TIGHT MONEY:
It refers to the tightness of the money market-the comparitive scarcity of loanable funds and a consequently the high rate of interest that tends to prevail.
12.TRADING OFF:
Something in order to get more of something else -- e.g. sacrificing consumption now from consumption later by devoting some present resources to invest.
13.TRANSFER EARNINGS:
The price which is necessary to retain a given unit of a factor in a certain industry may be called its transfer earning.
14.TRANSFER PAYMENT:
Payment made by one sector of the economy to another without any returns. Examples:UNemploment and social security payments, relief payments and charity etc.
15.TRANSFER PRICING:
An accounting procedure usually designed to lower total taxes paid by the multinational co-orporations(MNCs) in which intra-corporate sales and purchases of goods ans services are artificially invoiced so that the profits accrue to those branch office located in low tax countries while office in high tax countries show little or no taxable profit.
1.TARIFF:
It is the duty or tax which is charged by a country on its import from other countries,a custom duty.
2.TAX:
A compulsory payment to government against which there is no quid pro quo.
3.TAX AVOIDANCE:
Loopholes in tax laws used by tax payers to avoid tax.
4.TAX BREAK:
A situation which is providing some relief from tax,in whole or part.
5.TAX EVASION:
Illegal escape from tax payment; balack market incomes incomes result from tax evasion.
6.TAX INCIDENCE:
Ultimate burden of tax.
7.TAX SHIFTING:
refers to the phenonmenon whereby those or whom taxes are leveid are able to pass the burden either partly or fully on to others.
8.TIME DEPOSIT:
It refers to an interest bearing deposit over a fixed period of time.
9.TROTTING INFLATION:
When prices rise moderatetly and the annual inflation is a single digit, it refers to trotting inflation.
10.TERTIARY SECTOR:
The service and commerce portion of an economy.Example of the services include repair and maintainance or capital goods,haircuts,public administration,medical care,transport and communications,teaching.
11.TIGHT MONEY:
It refers to the tightness of the money market-the comparitive scarcity of loanable funds and a consequently the high rate of interest that tends to prevail.
12.TRADING OFF:
Something in order to get more of something else -- e.g. sacrificing consumption now from consumption later by devoting some present resources to invest.
13.TRANSFER EARNINGS:
The price which is necessary to retain a given unit of a factor in a certain industry may be called its transfer earning.
14.TRANSFER PAYMENT:
Payment made by one sector of the economy to another without any returns. Examples:UNemploment and social security payments, relief payments and charity etc.
15.TRANSFER PRICING:
An accounting procedure usually designed to lower total taxes paid by the multinational co-orporations(MNCs) in which intra-corporate sales and purchases of goods ans services are artificially invoiced so that the profits accrue to those branch office located in low tax countries while office in high tax countries show little or no taxable profit.
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