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:
“... until both employers’ and workers’ groups assume responsibility for chastising their own recalcitrant children, they can vainly bay the moon about “ignorant” and “unfair” public criticism. Moreover, their failure to impose voluntarily upon their own groups codes of decency and honor will result in more and more necessity for government control.”
—Mary Barnett Gilson (1877–?)