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Taxes

Non-discrimination

In the world of finance, tax treaties play a crucial role in protecting the rights of individuals residing in different countries. These treaties often include a "non-discrimination" clause, which ensures that citizens or nationals of one country living in another are not unfairly taxed in comparison to the local residents. This means that regardless of their residency, individuals should be subject to the same tax laws and requirements as the citizens of the host country. This provision serves as a safeguard against discriminatory taxation and promotes fairness in cross-border financial transactions.

Forfait

In certain countries, taxes may be imposed on an approximate taxable amount, known as a forfait, specifically when it comes to income tax or turnover tax for small businesse...

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Competent authority (ca)

A forum has been established to resolve any disputes that may arise from the application or interpretation of a double tax treaty. Each country involved in the treaty design...

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Abatement

In cases where an assessment is deemed inaccurate, there may be a reduction in the tax, penalty, or interest levied. This reduction serves to rectify the erroneous assessment ...

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Balancing payment

In finance, we often come across the term "payment" which refers to the transfer of funds from one party to another. In the context of Cost Contribution Arrangements (CCA), ...

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