Tax Exemptions For Persons or Entities
Most treaties eliminate from taxation income of certain diplomatic personnel. Most tax treaties also provide that certain entities exempt from tax in one country are also exempt from tax in the other. Entities typically exempt include charities, pension trusts, and government owned entities. Many treaties provide for other exemptions from taxation that one or both countries as considered relevant under their governmental or economic system.
Read more about this topic: Tax Treaty
Famous quotes containing the words tax, persons and/or entities:
“To tax and to please, no more than to love and to be wise, is not given to men.”
—Edmund Burke (1729–1797)
“Dostoevski’s lack of taste, his monotonous dealings with persons suffering with pre-Freudian complexes, the way he has of wallowing in the tragic misadventures of human dignity—all this is difficult to admire.”
—Vladimir Nabokov (1899–1977)
“The variables of quantification, ‘something,’ ‘nothing,’ ‘everything,’ range over our whole ontology, whatever it may be; and we are convicted of a particular ontological presupposition if, and only if, the alleged presuppositum has to be reckoned among the entities over which our variables range in order to render one of our affirmations true.”
—Willard Van Orman Quine (b. 1908)