Your total gross income minus specific adjustments. AGI is a key figure on your US tax return that determines eligibility for many tax credits and deductions. It's calculated before subtracting standard or itemized deductions.

Spanish term for self-employed professionals who are registered with the social security system. Autónomos must make monthly social security payments and quarterly tax payments (Modelo 130), regardless of income earned during that period.

A simplified tax regime for French freelancers and micro-businesses. The auto-entrepreneur system offers simplified accounting, flat-rate taxation, and reduced social charges. Available for annual revenue below certain thresholds (€77,700 for services in 2026).

Costs that are ordinary and necessary for running a business. These expenses are typically deductible from business income, reducing taxable profit. Rules vary by country regarding what qualifies and how expenses must be documented.

The first tax band in the UK income tax system. For the 2025/26 tax year, the basic rate is 20% on income between £12,571 and £50,270. Income below £12,571 is taxed at 0% (personal allowance), and income above £50,270 is taxed at higher rates.

Tax on profit from the sale of assets like stocks, bonds, or property. Rates vary by country, holding period, and type of asset. In the US, long-term capital gains (assets held over 1 year) are taxed at lower rates than ordinary income.

Complex dividend arbitrage strategies that were declared illegal tax evasion in Germany. "Cum-Ex" involved multiple parties claiming refunds for the same dividend tax, while "Cum-Cum" involved foreign investors avoiding German dividend tax through intermediaries.