tax exemption

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tax exemption

tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various charities, civic leagues, labor unions, trade associations, social clubs, and political organizations. Such policies date back to 1894, when the U.S. Congress passed income tax laws that provided exemptions for certain institutions.

tax exemption

The release of a property from the obligation to pay real estate taxes.

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Two million dollars of Darcy's estate (the amount of the Illinois estate tax exemption) could be transferred to a credit shelter trust.

Illinois estate tax planning in 2009 and beyond: for persons dying in 2009 and later, the Illinois estate tax is further decoupled from (but still tethered to) the federal estate tax. Estate plans should now provide the flexibility to deal with this dilemma. This article discusses the options and makes the case for an Illinois QTIP

He added: "The ending of the stallion tax exemption scheme is obviously going to have a negative effect on the Irish bloodstock industry, but we'll only see how negative over a period of years."

Irish breeders optimistic despite loss of tax exemption on stallion earnings; 'It was a big incentive to the industry at a time when there wasn't an industry' BLOODSTOCK WORLD

They said tax exemption on income was enough incentive for investors to make investments in FATA/ PATA.

Govt's decision for putting Ghee/Steel Industry in negative list in FATA/PATA for tax relief welcomed

An upward trend was seen in tax exemption costs due to rising preferential imports under the Free Trade AgreeAment with China as it rose nearly to R31.62bn in 2018-19, from Rs22bn in 2012-13.

Tax exemptions hit alarming Rs972bn

Notably, Pakistan has yet to provide tax exemption facilities to the US diplomats working in Islamabad since they applied for the same last year.

US withdraws tax exemption for Pak diplomats

Answering a question about the issue, Pakistan's embassy here claimed that the issue of tax exemption and refunds is a routine topic of discussion between any two countries.

US withdraws tax exemption privilege to Pakistani diplomats

'We are trying to find a better way for all our SME members and will submit our proposal to the government to encourage them to apply for tax exemption,' he said.

SMEs bemoan gov't tax exemption requirements

Justice Ijazul Ahsan said the Federal Board of Revenue (FBR) grants tax exemptions and further said that local DTH boxes should be affordable for consumers.

Locally manufactured DTH boxes to be introduced, PEMRA informs SC

In response, Justice Ijazul Ahsan said that tax exemptions come under the mandate of the Federal Board of Revenue (FBR) and added that local DTH boxes should be introduced at affordable prices.

PEMRA to launch local DTH boxes

The tax exemptions have been allowed on the following perquisites and allowances provided or granted by government to the ministers of the federal government, namely:-

Govt withdraws tax exemption to ministers

Domestic consumers have been given tax exemption on retail goods but traders and industrialists have not been included.