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Dictionary > Definitions > Economy > Tax credit

 Tax credit 

Definition

Tax provision allowing the households to deduce from their Income tax a part of the expenditure carried out for certain work of energy improvement relating to their main home. If this tax credit is higher than the amount of the which had tax, the surplus

Description

Example of calculations: I wish to make install an individual solar-fired heater: Calculation for an individual solar-fired heater of 4 m2 with a balloon of 200 liters: * Cost of the operation (installation and solar-fired heater) = 4 009 € including all taxes * Of which cost of the material = 2 954 € including all taxes

Author

Md.khurshed Alam

Author Email

mk_alamcce@yahoo.com

References

Tax credit - Wikipedia, the free encyclopedia
HM Revenue & Customs: Tax Credits
Federal Tax Benefits for Tuition and Fees

Definitions to be consulted

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