Taxable Entity

In tax jargon the term taxable entity denotes a person, family or legal entity which earns or holds taxable assets and is subject to taxation. The term is synonymous with the term taxpayer.

Example: When a earns an income or holds wealth which is subject to income or wealth tax, the person is the taxable entity. Their income or wealth is a taxable asset. When a company earns revenues or holds assets which are taxable, the company is a taxable entity and its revenues or assets are taxable assets. Consumers who purchase goods or services which are subject to value added tax (VAT) are taxable entities. The act of buying goods and services could be said to be the taxable asset in this case.

More on this topic:
Swiss federal income tax calculator

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