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International Taxation
International taxation has got its significance due to differing tax laws of different countries or the international aspects of an individual country's tax laws on a person or business entity. Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorial income. The manner of limitation generally takes the form of a territorial, residency, or exclusionary system. These variations create the potential for double taxation. Income tax systems may impose tax on local income only or on worldwide income. Generally, where worldwide income is taxed, reductions of tax or foreign credits are provided for taxes paid to other jurisdictions. Multinational corporations usually employ international tax specialists to keep their worldwide tax liabilities at minimum. With any system of taxation, it is possible to shift or re-characterize income in a manner that reduces taxation. Jurisdictions often impose rules to regulate shifting of income among commonly controlled parties, often referred to as transfer pricing rules. Agreements among governments (treaties) often attempt to determine who should be entitled to tax what.
What MNRS Offers
MNRS is well positioned to serve as an efficient and effective source for providing international tax advice and solutions. With knowledge of management systems and modern information technology our professionals discharges global tax assignments in a timely and cost effective manner.
Contact for this Service
CA Sandeep Khandelwal
Tel: +91-11-46502975
Telefax: +91-11-29812975
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