Examlex
Match each term with its explanation or definition.
-sometimes called a tissue hormone
Statutory Rate
The legally enforced tax rate set by government legislation.
Differential Tax Rates
Different rates of taxation applied to different levels of income, types of taxpayers, or types of activities, to achieve various economic or social objectives.
Effective Rate
The interest rate on a loan or financial product, re-calculated to include all fees and compounded interest, showing the true cost of the loan over its term.
Deferred Taxes
Taxes that are due on income or transactions that have been recorded in the financial statements but have not yet been settled in cash.
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