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Deferment of tax

Let's discuss the concept of tax deferral, which refers to the postponement of tax payments from the present year to a future year. Many countries have implemented laws to prevent taxpayers from using tactics to defer taxes that are not in line with legal regulations. An example of such legislation is the Controlled Foreign Corporation (CFC) legislation. This ensures that individuals do not exploit loopholes in the system to delay paying taxes.

Tax exile

A fiscal resident is a person, either natural or legal, who cuts ties with their current country of residence and moves to a different jurisdiction for tax purposes. This ca...

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Accounting basis

One of the key elements in understanding finance is the calculation of income tax and value-added tax (VAT). For VAT, the taxable amount is calculated by subtracting purchas...

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Credit, foreign tax

Double taxation is a common concern for businesses operating in multiple countries. To alleviate this issue, there is a method known as the foreign tax credit. Essentially, ...

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Captive bank

A captive bank is a fully owned subsidiary of a multinational corporation that offers banking services to the parent company and its affiliated entities. These banks are typ...

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