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A gross-up clause is also used when a payment that is made will be subject to taxes and the payer makes an additional payment to indemnify the recipient against the taxes – that payment will also be subject to tax. The sequence of additional payment, tax calculation, additional payment continues until the recipient receives the same amount ...
Value Added Tax termed 'Goods and Services and Sales Tax on Luxury Goods' Law ("Undang-undang Pajak Pertambahan Nilai atas Barang dan Jasa dan Pajak Penjualan atas Barang Mewah"/UU PPN and PPn BM): Law No. 8/1983, amended I by Law No. 11/1994, amended II by Law No. 18/2000, amended III by Law No. 42/2009, partially amended by Law No. 7/2021;
Whatever the price of the good, the net price for which the sellers are selling is effectively the gross price less the amount of the tax. This makes the sellers supply the amount of the good as if the price were lower by the amount of the tax.
A man wanted for questioning in the death of a woman set ablaze on a subway train is seen in a combination of still images from surveillance video in New York City on Dec. 22, 2024.
London — A Michelin-starred chef in England called Monday on the thieves who stole his work van, along with about $32,000 worth of meat pies inside it, to embrace the holiday spirit and hand ...
A wildfire in Malibu, California, has exploded to more than 2,000 acres, prompting evacuations. Pepperdine University students sheltered in place for six hours.
GRP Nominal is the regional or provincial counterpart of the national gross domestic product, the most comprehensive measure of national economic activity. The Statistics Indonesia ( Badan Pusat Statistik ) derives GRP for a province as the sum of the GRP Nominal originating in all the industries in the province at current prices market.
For households and individuals, gross income is the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes. It is opposed to net income , defined as the gross income minus taxes and other deductions (e.g., mandatory pension contributions).