Definition
Solidarity tax is a tax levied on individuals or corporations to fund social welfare programs, poverty alleviation efforts, or other solidarity-based initiatives. Solidarity tax rates may vary depending on factors such as income level, wealth, or corporate profits. Solidarity tax revenue is used to support vulnerable populations, promote social justice, and address societal inequalities.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.