Financial law is the law and regulation of the insurance, derivatives, commercial banking capital markets and investment management sectors there are many terms that follow financial law:
First Annual income the term itself is self-explanatory one could easily understand that it means the total income earned over one year before taxes and second Capital tax and it is on a corporation’s taxable capital comprising of capital stock surpluses and reserves. Capital tax is applicable to capital owned by a company not its spending. Third term is Customs which are duties, tolls or imposed by the sovereign law of the country on imports or exports. The next term is Dept and its sum of money due by contract and it is most frequently due by certain and express agreement which fixes the amount. The fifth term is Economy and it refers to the state country or region in terms of the production and consumption of goods and services and the supply of money. And there is Exchange rate and it is when one is stating the price of a nations currency in terms of another currency and it has two components, the domestic currency and a foreign currency. And the next term is Expenditure and it can be defined as the payment of cash for goods or services or a charge against available funds in settlement of an obligation as evidenced by an invoice, receipt or such other document. Furthermore, there are more terms like Exports are the goods and services produced in one country and purchased by residents of another country. Then we have Imports and they are foreign good services bought by resident of a country. And also, we have the Income Tax is the tax that governments impose on income generated by businesses and individuals within their judication. Bu law taxpayers must file an income tax return annually to determine their tax obligations. And Hard currency and it is the money that is valuable and can be exchanged easily because it comes from a powerful country. And the last term is the Central bank and it is the bank that provides services to national government into operation and control the amount of the money in the economy.