International Taxation Allison Auld Keller Graduate Intnl Acct & Multinatl Ent ACCT-564-61900 Professor Nauri Ahmed December 08, 2012 International Taxation Do you know that corporations pay taxes? Well they do. No matter if they are a mom and pop shop or a multinational corporation. The big question is how do companies that go international know what taxes they pay? Well your multinational companies do what we call treaty shopping to find out what taxes each country has that will affect
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Brazilian Accounting System: Inflation, Taxation, and the Adoption of International Financial Reporting Standards Introduction As the business world evolves to a higher level of integration with the increased ability to conduct business globally, international accounting is a subject that is becoming more relevant and increasingly more important to understand. Doupnik and Perera (2012) define International accounting on three levels through the standards and guidelines of supranational organizations
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that offers a highly developed commercial and communications infrastructure, and where a great number of domestic and international trading transactions are conducted (Business Dictionary, n.d.). London, New York, and Tokyo are the world's premier financial centres. It may be distinguish two types of financial centres: those such as London or New York, which are ‘international financial centres’ and which are excluded from the definition of extraterritorial centres. These latest are called ‘Offshore
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The case of Crown Insurance Services brings to the light the many issues now associated with the changing business environment, the questions that arise whether current existing law regrading residence and source is no longer fitting and whether its application may be conducive for cases where misappropriation is intentional. This paper considers some of the questionable reasoning used today by the courts in determining residence and source on companies incorporated overseas. The case of Crown
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for sorting financial disorder across economies, let me try and explain the concept of ‘money laundering’ and how the absence of strict standards in tax discipline have abated this menace. This also helps putting in perspective the role that the international tax policy, in tandem with other non-tax measures, plays in combating tax evasion, whether with or without aid of money laundering. What’s the color of money!! Money laundering is loosely used to describe ‘washing’ of unaccounted or illicitly
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MT570 Taxation (Current Topics) Assignment 2 Question 1 The draft tax determination TD 2009/18 – Income Tax: Can a private equity entity make an income gain from the disposal of target assets it has acquired? – deals with private equity entities disposing of Australian target assets, and per this draft determination, the ATO’s view on this is that yes a private equity entity can make an income gain on the disposal of such assets, although they do acknowledge that each case will depend on
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of globalization and liberalization of economies, national tax authorities face several problems. Some of them are illustrated below: 1. National tax authorities has administration of one national government. 2. There is no concept of International tax administration yet. 3. There is a traditional legal rule that one government does not enforce the tax laws of other governments. 4. Bank secrecy and other confidentiality laws (“de jure bank secrecy”) in many jurisdictions prevent the
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Question 3 Government around the world are becoming increasingly sensitive to the loss of revenue resulting from multinational companies moving into other jurisdictions, most particularly tax havens, to lower their overall rates of tax, what are some of the measures that can be adopted to prevent such revenue loses? A tax haven is a state or a country or territory where certain taxes are levied at a low rate or not at all while offering due process, good governance and a low corruption rate
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technique and give a step-by-step guide as to how large MNC’s such as Google use it. First I am going to give an overview of this tax avoidance technique and why it is advantageous for an MNC to use. This technique is just one of a class of similar international tax avoidance schemes that has allowed MNC’s to dramatically reduce their overall corporate tax rates. It in essence involves sending profits through one Irish company, to a Dutch company and finally to a second Irish company headquartered in a
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be dealt in an arms length arrangement with transfer pricing this does not occur . Countries that have enacted anti-transfer pricing legislation recalculate the enterprises taxable profit using arms length pricing which is not recognised in the International Accounting Standards Section 27 Consolidated and Separate Financial Statements. Some of the methods used by countries are • Comparable uncontrolled price method • Resale price • Cost plus method Topic 10 Question 1: (a) The tax implications
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