Tax Relief Mechanism

Tax Incentive - A Tax Incentive is a provision in tax law designed to encourage specific behaviors or activities by reducing a taxpayer's tax burden. It encompasses various mechanisms such as tax credits, deductions, exemptions, and preferential rates aimed at promoting certain economic or social objectives.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/RJ7P2VbioQVexfXhjLwsBI
Label (rdfs): Tax Incentive
Preferred Label: Tax Relief Mechanism
Alternative Labels: Tax Benefit
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Definition and Examples

Definition: A Tax Incentive is a provision in tax law designed to encourage specific behaviors or activities by reducing a taxpayer's tax burden. It encompasses various mechanisms such as tax credits, deductions, exemptions, and preferential rates aimed at promoting certain economic or social objectives.
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Translations

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Class Relationships

Sub Class Of: Tax Law Regulatory Objectives
Parent Class Of: Tax Credit

Tax Deduction
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Additional Information

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Deprecated: False

Metadata

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