Glossary
Loan - glossary for children
Money borrowed from a bank or a person that must be paid back later.
Local Fee - glossary for children
Money paid to the local authority for a specific service, such as waste collection or issuing a document.
Local Fees
Mandatory monetary payments made by citizens and businesses to the municipality in exchange for a specific service provided by it, including the collection of household waste; use of markets, fairs, marketplaces, sidewalks, squares, and streets; use of nurseries, kindergartens, daycare kitchens, and similar facilities; municipal social services; technical and administrative services; purchase of burial plots; activities for general support under the Pre-school and School Education Act that are not funded by the state budget and are carried out by centres for personal development support; dog ownership; and other local fees established by law.
Local Government - glossary for children
The people who manage towns and villages. They take care of important things like streets, parks, schools, and other services. The municipal council decides what needs to be done, and the mayor and administrative staff carry out the plans and make sure everything works properly.
Local Taxes
Mandatory tax payments by citizens and businesses to the municipality, regulated by the Local Taxes and Fees Act and specified by the municipal council. They are used to finance local activities and services such as infrastructure, education, transportation, and others. Local taxes apply to real estate, inheritances, donations, acquisition of property for consideration, vehicles, licensed business activities, tourist tax, taxi transport tax, and other local taxes established by law.
Local Tax - glossary for children
A tax that people and businesses pay to the local authority because they own houses and cars or provide tourist and taxi services.
Long Position
A situation in which an investor buys a given asset (or enters into a transaction equivalent to a purchase) with the expectation that its price will rise. The goal is to generate a profit by subsequently selling the asset at a higher price. A long position reflects an optimistic market outlook and is used both in trading physical assets and derivatives.
Loss Limitation (Mitigation)
Strategies employed by traders for risk management to protect themselves from potential losses, for example, in case of incorrect predictions regarding the price movements of financial instruments.
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