About: Income tax in Surea   Sponge Permalink

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Income tax in Surea is the most important revenue stream within the Surean taxation system. Income tax is levied upon two sources of income for individual taxpayers: personal earnings (such as salary and wages) and business income. Collectively these two sources of income tax account for 68% of federal government revenue and 60% of total revenue across the three tiers of government. Income received by individuals is taxed at progressive rates, while income derived by companies is taxed at a flat rate of 30%. Income tax is collected by the National Tax Agency for the Government of Surea.

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  • Income tax in Surea
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  • Income tax in Surea is the most important revenue stream within the Surean taxation system. Income tax is levied upon two sources of income for individual taxpayers: personal earnings (such as salary and wages) and business income. Collectively these two sources of income tax account for 68% of federal government revenue and 60% of total revenue across the three tiers of government. Income received by individuals is taxed at progressive rates, while income derived by companies is taxed at a flat rate of 30%. Income tax is collected by the National Tax Agency for the Government of Surea.
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  • Income tax in Surea is the most important revenue stream within the Surean taxation system. Income tax is levied upon two sources of income for individual taxpayers: personal earnings (such as salary and wages) and business income. Collectively these two sources of income tax account for 68% of federal government revenue and 60% of total revenue across the three tiers of government. Income received by individuals is taxed at progressive rates, while income derived by companies is taxed at a flat rate of 30%. Income tax is collected by the National Tax Agency for the Government of Surea. In Surea the financial year runs from April 1st to March 31th of the following year. Taxation is based on the source principle, in which only income earned at source, in this case in Surea, or those derived from overseas but received in Surea, are taxable. Income tax is applied to the taxable income of a taxable entity. Taxable income is calculated, in a broad sense, by applying allowable deductions against the income of a taxable entity.
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