Living and working abroad as a U.S. citizen or resident alien means your worldwide income is subject to U.S. taxation. This can lead to double taxation, as your foreign country may also tax your income. The Foreign Earned Income Exclusion (FEIE) offers a significant tax benefit by allow...
The authors summarize and critique amendments to the Income Tax Act (Canada) proposed by the Department of Finance (Canada) on March 4, 2010, dealing with foreign tax credit generator transactions.doi:10.3109/00365548.2010.486003Raj Juneja
How the foreign tax credit (FTC) can minimize double taxation on foreign income; who is eligible to claim the FTC, and the applicable types of income for which the FTC can be claimed; illustrated with examples.
Notwithstanding the immediately preceding sentence, if any member of the TODCO Tax Group becomes a member of such Group after the IPO Closing Date (determined after the application of Section 2.5(a) of this Agreement), TODCO shall be liable for allForeign Income Taxesimposed on such member for...
Curry, Jeff and Maureen Keenan Kahr "Individual Foreign-Earned Income and Foreign Tax Credit, 2001" Statistics of Income Bulletin, Spring 2004, 23, 98-120.Curry, J. and M. K. Kahr (2004) "Individual Foreign-Earned Income and Foreign Tax Credit, 2001" Statistics of Income Bulletin, 23, ...
Learn what foreign tax credit you should be aware of if you're a U.S. citizen living abroad and how to report foreign income with Form 1116.
Unilateral tax credit under Section 50A of the ITA for income remitted from countries with which Singapore does not have a Double Taxation Agreement (DTA); Double Taxation Relief under Section 50 of the ITA for income remitted from countries with which Singapore has a DTA ...
When Americans buy foreign stocks, their income and capital gains are taxed in the U.S. and may also be taxed by the government of the country where they invested. If you are also taxed by the foreign country's government, you may qualify for a "foreign tax credit" that allows you to...
"You are not a married person filing a joint income tax return and the total value of your specified foreign financial assets is more than $200,000 on the last day of the tax year or more than $300,000 at any time during the year."4 ...
Canadian-based real estate developers undertaking projects in foreign countries through foreign affiliates are at risk of carrying on an investment business under Canada's Income Tax Act. This article provides a comprehensive analysis of the investment business definition in both the current legislation ...