--%>

Double taxation

Specify some of the methods taxing authorities utilize to remove or diminish evil of double taxation?

E

Expert

Verified

Typical approach for avoiding the double taxation is for nation not to tax foreign-source income of its national residents. The alternative method, and the one which U.S. follows, is to give allowance to parent firm foreign tax credits against the U.S. taxes for taxes which are paid to the foreign tax authorities on foreign-source income.

   Related Questions in Financial Accounting

  • Q : Forecast future and forward exchange

    It is extremely difficult in order to forecast future exchange rates more precisely as compared to forward exchange rate or to the current spot exchange rate, as per the researchers. How these findings can be interpreted?

  • Q : Interest rate parity for determination

    Describe the allegations of interest rate parity for the determination of the exchange rate.

  • Q : What is Treasury bills What is Treasury

    What is Treasury bills? What did they do?

  • Q : Flexible and fixed budgets Give a brief

    Give a brief contrast between flexible and fixed budgets?

  • Q : Foreign commerce trade State three

    State three basic documents which are essential in order to conduct the typical foreign commerce trade?  Discuss briefly the purpose of each.

  • Q : Characteristics of international and

    Explain characteristics of the international and the domestic banks.

  • Q : Case study of a global economy The

    The economic recovery is seemingly on track and in fact strengthened during the first half of 2010. The global financial market however, suffered a setback with the turmoil in sovereign debt markets leading to sharp currency movements. The extent of recovery varies ac

  • Q : Restrictions of standard costing Write

    Write down the restrictions of standard costing?

  • Q : Prepare the journal entry to record the

    On December 31, 20x1, the Kat Co. purchase a group of four assets for a total cost of $1,000,000. An independent appraiser assesses the fair value of each asset asfollows: Asset Fair Value Land $350,000 Building 600,000 Equipment 200,000 Fixtures 150,000 Prepare the journal entry t

  • Q : Calculate the PV You expect the price

    You expect the price of the stock 3 years from now to be $119.04 (i.e., you expect P ˆ   3  ?? = $119.04). Discounted at a 10% rate, what is the present value of this expected future stock price? In other words, calculate the PV of $119.04.&nb