02 Aug 2009

Resident for tax purposes

by Darren

Many countries define the way in which they charge tax based on 2 key principles 1. Residency and 2. Source. A resident for tax purposes is chargeable to tax on income earned in that jurisdiction at a predetermined rate of tax. A non resident can be taxed in that jurisdiction if income was earned. A significant difference is the rate which applies to a resident and non-resident. With so many entrepreneurs like yourself crossing international borders an understanding of the rules of residency is key to your tax planning and general business decisions. So what is a resident? Over the next few weeks I will help explain the concepts of residency to you for the following countries: Australia Singapore USA Japan Hong Kong China

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Previous entry: Australia Delivery of Tax Bonus


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