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Taxes

Terrtoriality principle

One commonly used term in the world of finance is "territorial taxation". This concept refers to the practice of taxing individuals or businesses only within the boundaries of a particular country or sovereign tax authority. In countries that adopt this approach, residents are not required to pay taxes on any income earned from foreign sources. This principle is often seen as a way to promote economic growth and incentivize individuals and businesses to invest and do business within their own country.

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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Deductions

In the realm of income tax, the term "deduction" refers to an item that is subtracted from taxable income, resulting in a reduction of said income. Essentially, deductions a...

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Auxiliary company

A subsidiary is a company that is owned by a larger parent company. They provide supporting services to other companies within the same group. These services can include adm...

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Transportation tax

As we delve into the world of finance, let's take a closer look at an important concept - excise tax. This is a levy imposed on vehicles, ships, and aircrafts that utilize p...

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