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GLOSSARY

Accelerated depreciation definition

Published by a LexisNexis Corporate expert

What does Accelerated depreciation mean?

Accelerated depreciation is the set of HM Revenue & Customs rules that allow businesses to deduct from their taxable income the declining value of business-related investments ie equipment and machinery, faster than the value of those assets actually declines. The most common types of accelerated depreciation are 'sum of the years digits' and 'double declining balance'.

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State aid law and corporate taxation

State aid law and corporate taxation Article 107(1) TFEU defines State aid as 'any aid granted by a Member State or through State resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods (…), in so far as it affects trade between Member States'. The reference to 'any form whatsoever' makes reference to a concept of State aid much wider than direct subsidies to companies, and particularly it includes the possibility for the European Commission (Commission) to control possible aids granted by Member States through their tax legislation. This category of aid is called 'fiscal aid' and includes any legislative, regulatory or administrative measures related to Member States’ tax systems, especially, but not limited to, corporate taxation. The Commission put fiscal aid under the spotlight in 1998, with the adoption of a 'Notice on the application of the State aid rules to measures relating to direct business taxation'. This Notice confirmed that Member States...

Doing business in: Argentina

Doing business in: Argentina Updated July 2024 Introduction The Argentine Republic is sub-divided in 23 provinces and one federal district, the City of Buenos Aires, the nation’s Federal Capital. Located at the south-east tip of South America, Argentina is the eighth largest country in the world and the second largest in Latin America, covering some 3.8 million square kilometres (approximately 1.5 million square miles). Argentina has an estimated population of over 45 million people, of which approximately 15 million live in the Greater Buenos Aires. The overall population density is about 15 persons per square kilometres. With a Gross Domestic Product (GDP) of approximately US$420bn, Argentina is one of the largest economies in Latin America. However, the historical volatility of economic growth and the accumulation of institutional obstacles have been a hurdle to the country’s development. Urban poverty in Argentina remains high and reaches approximately 40% of the population, according to recent measurements. Despite the impressive recovery from the coronavirus (COVID-19) extended lockdown, the Argentine economy still faces significant...

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