IBFD International Tax Glossary. Front Cover · International Bureau of Fiscal Documentation. IBFD, – Taxation – pages. Get this from a library! IBFD international tax glossary. [Julie Rogers-Glabush;]. international tax glossary by Julie Rogers-Glabush · IBFD international tax glossary. by Julie Rogers-Glabush; International Bureau of Fiscal Documentation ;.

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VAT normally utilizes a system ibrd tax credits to place the ultimate and real burden of the tax on the final consumer and to relieve the intermediaries of any final tax cost. The taxable base for resident taxpayers is normally the taxpayer’s worldwide net worth, i. In the context of a bond or other debt instrument, it is the amount paid in excess of the face amount. Expenses incurred by a taxpayer to glossarg for his family, former spouse or other relatives.

Write a review Rate this item: Base companies carry on certain activities on behalf of related companies in high-tax countries e. Rawlingdecided by the UK House of Lords ininvolved complicated tax avoidance scheme which were marketed in the UK in the s. To this end the EU has issued directives in the area of indirect and direct taxation. In certain countries a tax clearance certificate must be produced before a person can leave the country. Preview this item Preview this item.

Undue hardship is a condition precedent to the granting of an extension of time to make a tax payment. The spread is taxed as ordinary income.


Please select Ok if you would like to proceed with this request anyway. A trader’s operating losses constitute broadly the excess of his operating expenditure over receipts from his operations.

IBFD International Tax Glossary, 7th Edition | Book – IBFD

Widely adopted principle in tax law, for example, where the taxpayer has the basic responsibility of declaring his taxable income or transactions.

Some countries treat a partnership as a separate taxpayer and may subject it to tax on its income and losses as a corporation. Generally, the income or expense is passed to the underlying owner.

Generally a multi-step procedure will be provided to resolve the problem of dual residence, usually the place of a permanent home available being the first criterion. Its website is www. Thus, the basic return would generally not account for the return that would be generated by any unique and valuable assets possessed by the participants.

The exercise glossagy control by one person over another could enable individuals and corporations to avoid or reduce their tax liability. National rules vary, depending on which concept of source is used. However it is now commonly used as another way of referring to a company. In EU context, it means one of the legal instruments issued by the competent institutions of the European Union. Payments for know-how may be taxed as royalties in many cases. Often occurs in the case of a partnership for example.

Citations are based on reference standards. The taxpayer recipient is entitled to credit the tax withheld at source against his final tax liabilities determined by domestic tax law of the country in glosssary he is resident. Please enter your name. As a general rule, with some exceptions, the right to tax income from dependent personal services is allocated to the country where the employment activities are exercised.


Founded inthe OECD provides a forum for representatives of countries to discuss and attempt to coordinate economic and social policies.

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In broader terms, in includes domestic legislation covering foreign income of residents worldwide income and domestic income of non-residents. Linked Data More info about Linked Data. To learn more, view our cookies statement page. What constitutes a legal entity for tax purposes may or may not coincide with what constitutes a legal entity for general law purposes.

In many countries the gratuitous transfer of property is subject to a gift tax. She was formerly a tax litigator for the Federal Department of Justice in Canada, eventually starting her own tax law firm, Rogers-Glabush Law Office in If the reported operating income of the tested party is not within a certain range, an adjustment will be made.

Reviews User-contributed reviews Add a review and share your thoughts with other readers. Fees are usually not considered taxes when golssary taxes to be included in a double tax treaty.