Hosam Hawamdeh
07-09-2012, 07:24 AM
international tax law
International tax law is a term that doesn’t really exist , but international tax law is meant to be the general international policies of the countries and how they internationally processes the tax law , that means generally how the country imposes tax law and what international manners do countries apply in tax law .
Tax law systems internationally are different , as Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorial income. The manner of limitation generally takes one of three forms(1)
- Territorial: taxation only of in-country income
- Residency: taxation of all income of residents and/or citizens
- Exclusionary: specific inclusion or exclusion of certain amounts, classes, or items of income in/from the base of taxation
Territorial system for example :
Hong Kong is an example of a territorial tax system.
A few countries tax only income earned within their borders. For example, the Hong Kong Inland Revenue Ordinance imposes income tax only on income earned from a business or source within Hong Kong.[5] Such systems tend to tax residents and nonresidents alike. The key problem argued for this type of territorial system is the ability to avoid taxation on portable income by moving it offshore. This has led governments to enact hybrid systems to recover lost revenue.
(1) Reference : Wikipedia
related articles :
federal income tax law (http://www.lawjo.net/vb/showthread.php?24609-federal-income-tax-law)Tax law advocates (http://www.lawjo.net/vb/showthread.php?24610-Tax-law-advocates)
International tax law is a term that doesn’t really exist , but international tax law is meant to be the general international policies of the countries and how they internationally processes the tax law , that means generally how the country imposes tax law and what international manners do countries apply in tax law .
Tax law systems internationally are different , as Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorial income. The manner of limitation generally takes one of three forms(1)
- Territorial: taxation only of in-country income
- Residency: taxation of all income of residents and/or citizens
- Exclusionary: specific inclusion or exclusion of certain amounts, classes, or items of income in/from the base of taxation
Territorial system for example :
Hong Kong is an example of a territorial tax system.
A few countries tax only income earned within their borders. For example, the Hong Kong Inland Revenue Ordinance imposes income tax only on income earned from a business or source within Hong Kong.[5] Such systems tend to tax residents and nonresidents alike. The key problem argued for this type of territorial system is the ability to avoid taxation on portable income by moving it offshore. This has led governments to enact hybrid systems to recover lost revenue.
(1) Reference : Wikipedia
related articles :
federal income tax law (http://www.lawjo.net/vb/showthread.php?24609-federal-income-tax-law)Tax law advocates (http://www.lawjo.net/vb/showthread.php?24610-Tax-law-advocates)