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)
“In properly organized groups no faith is required; what is required is simply a little trust and even that only for a little while, for the sooner a man begins to verify all he hears the better it is for him.”
—George Gurdjieff (c. 1877–1949)