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 word groups:
“Trees appeared in groups and singly, revolving coolly and blandly, displaying the latest fashions. The blue dampness of a ravine. A memory of love, disguised as a meadow. Wispy clouds—the greyhounds of heaven.”
—Vladimir Nabokov (1899–1977)