Income Tax (Personal)
Also called salaries tax,
it is a tax imposed on a taxpayer in respect of the income earned by them.
The definition of taxable income and the percentage tax rate will be different in each jurisdiction.
Profits Tax (Corporate)
Corporate profits tax is a tax imposed on companies,
corporations in respect of their trading profits and other incomes.
Capital Gains Tax
Capital gains tax is a tax on the profits generated from the disposal of assets,
e.g. shares or property etc, that’s increased in value.
For jurisdictions which impose worldwide tax,
a taxpayer may be levied capital gains tax on both local and overseas assets.
Inheritance Tax
Inheritance Tax is a tax imposed on the recipients of the inherited assets from a deceased person.
Each jurisdiction will have a different basis for determining who needs to pay inheritance tax and what assets are taxable.
