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Taxes

Economic double taxation

Double taxation refers to the situation where an individual or company is taxed twice on the same income or asset. This can happen due to conflicting tax laws in different countries, resulting in both the source country and the residence country imposing taxes. Economic double taxation occurs when the same economic activity is taxed twice, while juridical double taxation refers to the taxation of the same legal entity or person by two different countries. It is important to be aware of these concepts when dealing with international business or investments.

Use tax

In the realm of finance, we often come across the term "use tax." This refers to a tax imposed on goods that are used within a certain jurisdiction, even if they were purcha...

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Constructive ownership

This indirect ownership is known as beneficial ownership When it comes to finances, it's important to understand the concept of beneficial ownership. This refers to the sit...

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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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Management expenses

When it comes to calculating taxable profits for a trade, the expenses of management are typically deductible. However, for a group of companies, it becomes crucial to deter...

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