Abusive Tax Shelter – Explained

What is an Abusive Tax Shelter?An abusive tax shelter is a financial scheme that reduce income tax and minimize other tax liabilities. Usually, abusive tax shelters are regarded illegal and often attract fines if the Internal Revenue Service proves that they have...

Value-Added Tax – Explained

What is a Value-Added Tax?Value Added Tax or commonly known as VAT is a type of indirect tax which is imposed on the domestic consumption of goods and services. Food, essential medicines, and certain other items are exempted from this tax. This tax is levied at each...