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QUESTION 1 Tax planning is the analysis of a financial situation or plan from a tax perspective. The purpose of tax planning is to ensure

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QUESTION 1 Tax planning is the analysis of a financial situation or plan from a tax perspective. The purpose of tax planning is to ensure tax efficiency, with the elements of the financial plan working together in the most tax-efficient manner possible. Required: With appropriate illustrations and examples, briefly explain the following terms with respect to tax planning: i. Tax holiday Tax Exemptions ii. iii. Tax Reliefs iv. Tax rebates/refund

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