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Tax deduction
Tax deductions are amounts you can subtract directly from your income.
Tax deductions are amounts you can subtract directly from your income prior to calculating how much tax you owe. Businesses often have many more tax deductions than individuals, however individuals may have some such as retirement contributions, moving expenses, or spousal payments. The idea is to lower your overall income so that it is taxed at a lower rate.
Related Glossaries
AML screening
AML, or anti-money laundering, screening is a critical part of compliance.
HRIS
An HRIS is a Human Resources Information System or Human Capital Management system.
BIC
BIC stands for Bank Identifier Code.
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The Self-Employed Residence Permit is for those seeking to work remotely in the Netherlands. This permit gives you the freedom to live and work from the Netherlands.
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