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Thread: Definition of some english terms for a german student

  1. #1 Definition of some english terms for a german student 
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    Hello,
    I' am a student of economic from germany. I have to write an article about the tax system in Cameroun (Yes they have one :-D ) . All literature I use is in english and I have some problems with the correct definition of some words. My english is not the best and I hope someone can help me.
    I have a problem with the distinction of the terms: tax system, tax regime an investment code. Especially the term investment code ist difficult to translate. Investment code is used in the context of tax exemption.
    Is it possible, that somebody can describe these terms and the differences.

    Thank You!


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  3. #2  
    Universal Mind John Galt's Avatar
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    Leo, I am no expert in this area, but I noticed no one else had replied, so I shall give it a go.

    Tax System: this would be the specific laws and regulations that govern the application of taxes - what and who is to be taxed; on what basis; how much they have to pay; when they have to pay it; what exemptions exist, etc

    Tax Regime: this would be the underlying philosphy of the tax system. Is it intended to promote small businesses at the expense of large? Does it benefit the middle classes disproportionately? That type of thing.

    Investment Code: this is a pure guess. The government will favour some types of investment over others. These may obtain special tax benefits: lower rates, deferred payments, tax holidays. The Investment Code would define what, if anything the business doing the investment was entitled to. But remember, that is a pure guess.

    Hope that helps a little.


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  4. #3  
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    Thank you for the answer! When I read what you writte, I think my interpretation is very similar to that. But now I know I`am not totally wrong...
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  5. #4  
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    I hadn't heard the term "Investment Code" before but after doing a Google Search, I think I have a general idea. Most of the countries with investment codes appear to be in Africa or other underdeveloped areas.

    The following is from the investment code of Belarus

    "THE INVESTMENT CODE OF THE REPUBLIC OF BELARUS

    This Code establishes the general legal conditions for engaging in investment activity in the Republic of Belarus. It aims to encourage and to offer government support to investment activity, and to protect the rights of investors in the Republic of Belarus."
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