Tag Archives: #FinancialTermsExplained

What is the difference between revenue and tax?

Introduction Revenue and tax are two crucial financial concepts, often confused due to their interrelation. Revenue refers to the total income generated by an entity, while tax is a mandatory financial charge imposed by the government. This article will provide a step-by-step guide on their differences, applications, benefits, limitations, and a cooperative table comparison. Definition… Read More »

What is Terminal Tax?

Terminal tax  It refers to the ultimate tax payment that must make by an individual or entity prior to the conclusion of a tax period. This scenario commonly arises for businesses or self-employed individuals who obligate to pay provisional tax throughout the year, estimated based on their projected income. When the tax year concludes, the… Read More »