Tax Global Chapter 2

When a financial planner works with someone in a cross-border situation

Those individuals who live and work in your territory may be known as—

Considering that some individuals may have income or assets subject to several territorial tax regimes in such a case least suitable action by a financial planner is:

Which of the following statement is incorrect?

Which of the following is an objective of tax treaty?

Which of the following is not an objective of tax treaty?

“—refers to an agreement between territories regarding how taxes will be assessed on a company or citizen domiciled in one territory and earns income in another territory.

Which of the following help in avoiding double taxation for the investor?

Which of the following is not a feature of tax credit?

“—-is the process of exploiting the differences between two different tax results for the same transaction.

“—refers to the place in which an entity is officially identified

By “qualified” we mean which of the following except

In cross-border situations how do most territories base taxation?

The rule of obtaining a certificate of compliance with the territory’s income tax laws prior to leaving the territory is not applicable on resident alien when he intends to return to the territory.

Source of any income is perhaps the most important factor, to be concerned for taxation.

Income resulting from personal services usually is sourced from the place where the services were performed.

Tax treaties are enacted between two specific territories, a territory cannot issue global tax treaty.

Through tax arbitrage, it may be possible for a taxpayer to receive a tax benefit in more than one territory.

Income taxes are paid in the territory of taxation.

Which of the following provide a retirement benefit and also accumulate a cash fund that belongs to the employee?

Which of the following provide a retirement benefit only and do not accumulate a cash fund that belongs to the employee?