Archive | Domestic Tax

Principles of Domestic Tax Systems

In this article we will discuss about the principles of domestic tax systems. General Principles of Domestic Tax Systems: As early as 1776, Adam Smith prescribed the four principles of taxation in his book on the "Wealth of Nations" as follows: (a) Equity: The tax payable should accord with the ability to pay, or the taxable capacity. (b) Certainty: The [...]

By |2016-06-22T16:01:10+00:00June 22, 2016|Domestic Tax|Comments Off on Principles of Domestic Tax Systems

Source of Income of a Country

In this article we will discuss about the source of income of a country:- 1. Connecting Factors for the Tax Objects 2. Basic Source Rules 3. Taxing Source Rules 4. Conflicts in Source Rules. Connecting Factors for the Tax Objects: The connecting factors for the tax objects are the source rules. The source rules identify: (a) Where the income arises [...]

By |2016-06-22T16:01:10+00:00June 22, 2016|Domestic Tax|Comments Off on Source of Income of a Country

Advance Tax Rulings: Meaning and Country Examples

In this article we will discuss about the advance tax rulings: 1. Meaning of Advance Tax Rulings 2. Country Examples of Advance Tax Rulings. Meaning of Advance Tax Rulings: Many countries provide advance tax rulings (“ATR") today. These rulings are issued either under a formal legislation by a separate body (Examples: India, Sweden) or given by the tax authorities with [...]

By |2016-06-22T16:01:10+00:00June 22, 2016|Domestic Tax|Comments Off on Advance Tax Rulings: Meaning and Country Examples
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