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:
“Instead of seeing society as a collection of clearly defined “interest groups,” society must be reconceptualized as a complex network of groups of interacting individuals whose membership and communication patterns are seldom confined to one such group alone.”
—Diana Crane (b. 1933)
“If we can learn ... to look at the ways in which various groups appropriate and use the mass-produced art of our culture ... we may well begin to understand that although the ideological power of contemporary cultural forms is enormous, indeed sometimes even frightening, that power is not yet all-pervasive, totally vigilant, or complete.”
—Janice A. Radway (b. 1949)