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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A captive insurance company is usually established in a low-tax country. Citations are based on reference standards. An LLC may be taxed as a partnership or a corporation depending on the nature of the status under which it is organized.

A captive bank is generally located in a tax haven in order to avail itself of the low capital requirements and freedom from exchange control. The report generally consists of a balance sheet, income statement and may include other information as well. A prison sentence may be imposed for serious tax fraud. Expenses incurred by a taxpayer to provide for his family, former spouse or other relatives.

S government that prints the regulations of the various governmental agencies. The name field is required. Most corporations receive no deduction for it. In a mortgage that states an insufficient interest rate, tax law will impute a higher rate and a lower principal, which will increase taxes on the receipt of payment.

Such relief may be given either under a tax treaty or in accordance with unilateral provisions. The main international sources of tax law are bilateral or multilateral treaties, and one important source for the interpretation of treaties is the OECD model tax treaty and the accompanying commentary.


Cross-referenced listing of terms indicating itnernational, related and contrasting terms. Residents are not taxed on any foreign-source income. The manufacturer uses the intangible property to produce tangible property which is then resold to the parent for distribution to ultimate customers.

This is called the super royalty provision. Rates are levied on the occupiers of real property on the basis tad the annual rental value of the property.

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A number of countries have introduced legislation to counter the kind of tax avoidance whereby a taxpayer obtains a deferment of tax which is not intended by law. This treaty creates a single economic and monetary union EMU.

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The spread is taxed as ordinary income. A general partner is internationa, in the management and day-to-day operation of the partnership and is jointly and severally liable for all obligations of the partnership. The ownership interest possessed by shareholders in a corporation – stock as opposed to bonds.

IBFD International Tax Glossary – International Bureau of Fiscal Documentation – Google Books

It is not a separate legal entity. The rate of interest is usually fixed. GROSS INCOME — Gross receipts, whether in the form of cash or property, of tac taxpayer received as compensation for independent personal services, and the innternational receipts of the taxpayer derived from a trade, business or services, including interest, dividends, royalties, rentals, fees or otherwise.


You may send this item to up to five recipients. In respect of VAT, tax would be computed as a percentage levy on the excess of sales over purchases. This term is used in international shipping where a ship’s country of registration is selected on the basis of country’s legal requirement and tax regime.

For tax purposes, a protocol is signed and ratified by the parties in addition to an existing tax treaty. Substance over form doctrine. Double taxation is economic if more than one person inteernational taxed on the same item.

IBFD international tax glossary

Usually, stamp duties are “levied” by way of a stamp being fixed to the document in question. Although most countries tax the benefit of employer-provided automobiles and accommodation, the tax treatment of other fringe benefits internatjonal considerably.

It gives an employee the opportunity to benefit from the future success of the company when the market value of the shares increases over the predetermined option acquisition price. Instruments include contracts, notes, and leases e.

It denotes a centre of activity of a fixed or permanent character from which such services can be carried out such as a physician’s consulting room.