Examlex
The fibula has all of the following features except the
Constructive Receipt
A tax principle stating that income is considered received by the taxpayer once it is credited to their account or made available without restriction.
Taxable Income
The portion of income used to calculate how much the entity owes in taxes to the government, after all deductions and exemptions are applied.
Ability To Pay
The financial capacity of an individual or entity to meet financial obligations or commitments without incurring undue hardship.
Deferred Tax Liabilities
Taxes that are assessed or incurred but not yet paid, typically resulting from timing differences in recognizing revenue and expenses for tax and accounting purposes.
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