badges of trade


badges of trade
The criteria that distinguish trading from investment for taxation purposes. They were set out by the Royal Commission on the Taxation of Profits and Income in 1954. Dealing on the commodity markets is normally regarded as trading and profits are subject to income tax or corporation tax; dealing on security markets is often (but not always) treated as investment and profits are subject to lower taxation by the capital-gains tax.

Big dictionary of business and management. 2014.

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