Terms Beginning With 'w'

Worldwide Income

  • January 17, 2020
  • Team Kalkine

As the term suggests, worldwide income can be described as the aggregate of a taxpayer’s foreign as well as domestic income. It is measured by totalling the revenue generated by a tax-paying entity from all sources. These sources are duly reported to the body calculating the worldwide income. The purpose of calculating worldwide income is to infer the total taxable income of an individual or business entity.

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