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Examples of these functions are warehousing and shelf stocking. Trade discounts are often combined to include a series of functions, for example 20/12/5 could indicate a 20% discount for warehousing the product, an additional 12% discount for shipping the product, and an additional 5% discount for keeping the shelves stocked.
The Harmonized system of Nomenclature (HSN) code is used for classifying goods under the Goods and Services Tax (GST) in India. The HSN code is a six-digit code that uniquely identifies a product. The first two digits of the code identify the chapter, the next two digits identify the heading, and the last two digits identify the subheading.
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
With the additional municipal tax, which remained flat, the top rate became 46.28%. [106] Jamaica had a flat tax of 25% on personal income until 2010, when it introduced additional higher rates of 27.5% and 33%. It restored the flat tax of 25% in 2011, and introduced a second higher rate of 30% in 2016. [107]
"Not only the clients but even educated people sometimes have trouble understanding this system. The problem is that the flat rate gives an impression of a lower rate than it actually is." [4] Where loans quoted with declining balance rates are not required by law, flat interest rates are also often used. The latter will be selected by ...
Corporate tax is imposed in the United States at the federal, most state, and some local levels on the income of entities treated for tax purposes as corporations. Since January 1, 2018, the nominal federal corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017. State and ...