The below mentioned article provides a study note on foreign tax relief. After reading this article you will learn about: 1. Introduction to Foreign Tax Relief 2. Expense Deduction 3. Exemption Method 4. Foreign Tax Credit 5. Country Examples of Foreign Tax Relief. Contents: Introduction to Foreign Tax Relief Expense Deduction Exemption Method Foreign Tax Credit Country Examples of Foreign [...]
In this article we will discuss about the treatment of various tax losses:- 1. Revenue or Trading Losses 2. Capital Losses 3. Foreign Branch Losses 4. Group Taxation. Revenue or Trading Losses: Most countries in the world allow the carry-over of losses of residents and permanent establishments of non-residents for either an unlimited or a specified period. Few countries also [...]
In this article we will discuss about the basis of tax computation:- 1. Introduction to the Basis of Tax Computation 2. Tax Rate 3. Tax Base 4. Accounting Policies 5. Tax Allowances and Disallowances 6. Tax Incentives 7. Assessment and Withholding Taxes. Introduction to the Basis of Tax Computation: The taxable income or tax base and the tax rate determine [...]