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Back taxes |
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Back taxesDue taxes that have not been paid on time.Back taxesTaxes that have not been paid on the due date or were underreported either by accident or by intention on a past tax return. The tax authorities can demand payment of back taxes plus the imposing of penalties and or interest.Similar MatchesEarnings before interest and, taxes (EBIT)Earnings before interest and, taxes (EBIT)A financial measure defined as revenues less cost of goods sold and selling, general, and administrative expenses. In other words, operating and nonoperating profit before the deduction of interest and income taxes. Asymmetric taxesAsymmetric taxesWhen participants in a transaction have different net tax rates. Cash flow after interest and taxesCash flow after interest and taxesNet income plus depreciation. Local taxesLocal taxesIn the USA, taxes paid by an individual to a local state or county. These are deductible on the person's federal tax return. In the UK the nearest equivalent is the tax paid by houseowners to their local council (council tax). There is no tax relief on such payments but reductions can be claimed from the local council in cases where houseowners receive low income. Excise taxesExcise taxesIn the US, federal and state taxes on the sale or production of certain types of products such as alcohol and tobacco. Further SuggestionsLocal taxesEarnings before taxes (EBT) Earnings before interest after taxes (EBIAT) Earnings before interest, taxes, and depreciation (EBITD) Section 352 of the Income and Corporation Taxes Act 1988 Earnings before interest, taxes, depreciation, and amortization (EBITDA) |
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