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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
Tax filing
Tax filing is the process of submitting required financial documents and information to tax authorities.
EOR
EOR stands for Employer of Record.
DEWS
DIFC Employee Workplace Savings (DEWS) is a savings and investment scheme introduced by the Dubai International Financial Centre (DIFC).
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Our work with RemotePass is a partnership based on trust and credibility we are proud to have. With RemotePass services, onboarding and payroll for our global team is well managed and our employees feel safe and cared for.
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