In Latin we can find the etymological origin of the exempt term that concerns us. Specifically, it should be noted that it derives from “exemptus”, which in turn comes from the verb “eximere”, which can be translated as “suppress”, “release” or “withdraw”.
The term exempt allows to qualify that or that which is free of something . Therefore has independence or autonomy Regarding a certain issue.
For example: "Experts warn that our country is not exempt from suffering an earthquake", “The government analyzes raising the minimum amount exempt from Income Tax”, "The mayor's speech was not without controversy".
Among the exempt synonyms we can highlight words such as released, favored, free, downloaded or dispensed. On the contrary, among its antonyms are words such as bound, bound or compromised, among others.
East adjective It is usually used in the tax field. The exemption implies that, on a person or an activity, the economic burden that would correspond to it does not fall according to the strict application of the regulations in force. The exempt subject, in this way, has no obligation to contribute despite the realization of the taxable event .
Take the case of Value Added Tax (VAT ), also called Value Added Tax . When an operation falls within the scope of the tax, but it is exempted from its payment due to a legal provision, it refers to Exempt tax . This usually happens with educational services, to name a case.
There are also subjects exempt from gross income . Religious entities, school cooperators, political parties and charitable institutions, among other associations, are usually released from the payment of tax which applies to gross income through an exemption established by legal means.
A car that has a certain age, on the other hand, may be exempt from payment of patents . The number of years required for the exemption depends on the jurisdiction.
Within the field of finance and investment, keep in mind that the adjective that concerns us in relation to the security of certain financial products is also used. Thus, for example, it can be determined that preferred shares are not exempt from certain risks for those who decide to dispose of them. In this way, the person in question before having that product must be very clear about what possible risks they face in order to avoid losing part of the money they have spent on them.
In the same way, it should be stressed that in Spain when there was the Compulsory Military Service, popularly known as mili, there were different reasons that could determine that a young man was exempt from providing that one.
Specifically among the causes of exemption were from having certain diseases of chronic and irreversible type to having a height that did not reach the minimum required through having suffered the death of a family member in the Army, having a physical or intellectual disability ...
In countries where he vote It is mandatory, people can be exempt from this obligation when they reach a certain age. From then on, although the subject is exempt from the obligation, he can continue voting if he wishes.