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The issue of taxes is a controversial topic and everyone is talking about it, as in Britain there are many high taxes and people are looking for ways to avoid them, and let us tell you today. Our article is about the types of taxes in Britain or the United Kingdom and we will also tell you if there are ways to avoid tax, and we will tell you about things What you should do about taxes
Income taxes in Britain
In Britain, there is a certain salary value. If your salary reaches this specific figure per month, you will have to pay salaries. People whose salaries or incomes are high pay high taxes. As for people who do not pay taxes, they are those who receive the lowest salary or income, where they go to There is a municipality center in their area and they provide evidence and report their expenses to be exempted from taxes. He is also exempted from electricity bills, and if his financial situation is weak, he takes support from the municipality.
Taxes on buying and selling real estate in the UK
The process of buying or selling real estate in Britain is accompanied by taxes. When buying a property, a progressive tax will be imposed on each property whose value exceeds 125,000 pounds, as taxes start from 2% and up to 12% for a property whose value reaches more than one and a half million pounds. These also include The tax for every commercial property whose value exceeds 150,000 pounds, where the rate of these taxes starts at 2% and ends with 5% for commercial property whose value exceeds 250,000 pounds, and there are some cases in which the government allows exemption from all or part of these taxes. Capital gains tax, but commercial property tax does not apply if you have lived in the house for ten years
Tax exemption in Britain in 2022
There are some laws and legal loopholes that may help you avoid taxes, you just have to submit a tax report to the government every year explaining all your household banks that are related to your work, and find a financial advisor or lawyer who explains to the government what financial crises you are experiencing because of taxes and of course the expenses that It will cost you to the lawyer and will be deducted from taxes, so you must submit the tax report clearly so that the government can help you and meet your request, and you can later be exempted from taxes completely or partly.
Taxes in Canada have become the talk of the people, as some people think that he will pay very large taxes that he cannot pay from his revenues, but we will explain the matter to you in full in our article and we will explain to you the exact subject of tax or taxes, and to understand what the tax system in Canada is, we will first tell you that the tax system in Canada Canada is a little complicated, but when you understand the heart of the matter, there will no longer be problems with taxes, so you must know what the system of government in Canada is. The government is a federal government, meaning it has three levels. The first level is federal, which includes ten provinces and three territories, and then each province has its own Its own government, which decides its internal affairs, including taxes, there will be a federal tax and a county tax
Types of taxes in Canada
There are two types of taxes in Canada
First, sales tax, which is a tax that is characterized by being fixed, and all people pay it regardless of a person’s income or income
As we said that the sales tax there is a part of it that goes to the federal government and another part goes to the provincial government, which is a fixed number that has nothing to do with a person’s monthly income, meaning whatever your income you will pay the same amount of tax paid by anyone with different income, and the federal government takes on sales tax 5 %, which is a fixed percentage that you will pay when you buy any commodity, and there is another part that goes to the provincial government. As for the percentage of tax that will be paid to the provincial government, it is also fixed for each person and has nothing to do with income or revenue, but it varies from province to province, for example, the province of Quebec has a tax rate of 10 % We conclude that you will pay 5% for the federal government tax and 10% for the provincial government tax rate, meaning that you will pay sales tax in Quebec when you buy something 15% sales tax rate
Secondly, the income tax is a progressive tax and it increases as the value of your monthly income increases
As we said that the income tax is a progressive tax, the higher your monthly income, the higher the tax will be, and you will pay more taxes, the higher your monthly income or revenue, and the beginning of the tax rate, i.e. the minimum income tax set by the federal government is 15% and the provincial government sets its tax rate according to Every province, that is, every province has a minimum tax, and this means that it varies from province to province. For example, in Quebec, the federal government is 15%, and also the provincial government has a tax rate of 15%, meaning that you will pay tax on your monthly income or income 30%, and this is of course the lowest segment in terms of income or revenue.
How to get exempt from taxes in Canada in 2022
There is a very special thing in Canada, which is that you can be completely exempt from taxes in Canada or pay less than 50% of them. There is a law in Canada that exempts some people from taxes, but this is at the end of the year, meaning that you will pay taxes as normal as all people, and at the end of the year there is a report You submit it to the government. For example, if you are married and have children and paid 50,000 Canadian dollars in taxes, all the taxes you paid in this year will be returned to you. And vice versa, if you do not have children or are married, no part of the taxes will be returned to you, and there are some cases in which half of the amounts you paid will be returned to you. You paid it to the tax or according to the percentage, and this is due to your social or financial situation, or perhaps some of your debts. All you have to do is submit the report at the end of the year clearly, and then the government will make a decision that suits you completely.
We told you most of the things that people are wondering about taxes in Canada for 2022, and taxes in Canada are not complicated matters.