Tax Deduction - FOLIO Ontology

Identification

IRI:

https://folio.openlegalstandard.org/RBe3wpR5ZicE4QYklVEqSMR

Label Tax Deduction

Preferred Label Income Reduction Allowance

Identifier N/A

Alternative Labels

Allowable Expense Tax Write-Off

Definition

A Tax Deduction is a reduction of a taxpayer's taxable income, lowering the amount of income subject to taxation. It operates by subtracting specific expenses or allowances from gross income, thereby decreasing the tax base before the tax rate is applied

Class Relationships

Sub Class Of

• Tax Incentive

Is Defined By

N/A

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Additional Information

Metadata

Comment

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Description

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Notes

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Editorial Information

History Note

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Editorial Note

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Deprecated

No

Source and Origin

No source or origin information available