Term:
Taxes paid to obtain business and professional licences
Definition:
Taxes paid to obtain business and professional licences consist of those taxes paid by enterprises in order to obtain a licence to carry on a particular kind of business or profession; in some circumstances when the payments are not unrequited they should be treated as payments for services rendered.
Domain:
Economics & National Accounts
Source:
SNA 7.70 [OECD 5210]