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Taxes

Force of attraction

One must understand the importance of a permanent establishment when it comes to taxation. This refers to the concept where a country taxes the income and property of a business located within its borders. However, it also extends to all income earned by the foreign head office from sources within the country and all property owned by the foreign head office situated in the country. Interestingly, the OECD model treaty does not allow the application of this concept.

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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Earnings before taxes

In the world of finance, a key concept to understand is the calculation of a company's net income. This is determined by taking the sales revenue and subtracting the cost of...

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Corporation shopping

Tax treaty shopping refers to the practice of exploiting tax treaties between countries in order to reduce or eliminate tax liability. A related term, sometimes used in addi...

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Beneficial owner

In the world of finance, there exists a concept known as beneficial ownership. This refers to a situation where an individual, although not the legal owner of a property, st...

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