Groups of Taxpayers
Some systems allow a deduction to a company or other entity for expenses or losses of another company or entity if the two companies or entities are commonly controlled. Such deduction may be referred to as “group relief.” Generally, such deductions function in lieu of consolidated or combined computation of tax (tax consolidation) for such groups. Group relief may be available for companies in EU member countries with respect to losses of group companies in other countries.
Read more about this topic: Tax Deduction
Famous quotes containing the words groups of and/or groups:
“In America every woman has her set of girl-friends; some are cousins, the rest are gained at school. These form a permanent committee who sit on each other’s affairs, who “come out” together, marry and divorce together, and who end as those groups of bustling, heartless well-informed club-women who govern society. Against them the Couple of Ehepaar is helpless and Man in their eyes but a biological interlude.”
—Cyril Connolly (1903–1974)
“Only the groups which exclude us have magic.”
—Mason Cooley (b. 1927)