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What are Dividends?

Dividends

Dividends are payments made by a corporation to its shareholders. It is the portion of business profits paid out to stockholders. When a corporation earns a profit or surplus, that money can be used in 2 ways: it can be re-invested in the business (retained earnings), or it can be paid to the shareholders as […]

What is Gift Tax?

Gifts Taxation

A gift tax is a tax imposed on the gratuitous transfer of ownership of property. For something to be considered a gift, the receiving party cannot pay the giver full value for the gift, but may pay an amount less than its full value. It is the giver of the gift who is required to […]

What is Withholding tax?

Withholding Taxes

Withholding tax, is a government requirement for the payer of an item of income (Salary, Dividend, Interest…) to withhold or deduct tax from the payment, and pay that tax directly to the government. Governments use withholding tax as a means to combat tax evasion and tax avoidance. The amount of withholding tax on income payments […]

What is Stamp Duty?

Stamp Duty

Stamp Duty is a tax on legal documents such as those used, e.g., for the sale or purchase of shares or the conveyance of a property to a new owner. Historically, this included the majority of legal documents such as cheques, receipts, military commissions, marriage licences and land transactions. A physical stamp (a revenue stamp) […]

What is tax?

What is tax

Tax is a fee charged (“levied”) by a government on a product, income, or activity. If tax is levied directly on personal or corporate income, then it is a direct tax. If tax is levied on the price of a good or service, then it is called an indirect tax. The purpose of taxation is […]

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