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:
“I come into the peace of wild things
who do not tax their lives with forethought
of grief.”
—Wendell Berry (b. 1934)
“There be as many persons of a king, as there be petty constables in his kingdom. And so there are, or else he cannot be obeyed. But I never said that a king, and every one of his persons, are the same substance.”
—Thomas Hobbes (1579–1688)
“What are you now? If we could touch one another,
if these our separate entities could come to grips,
clenched like a Chinese puzzle . . . yesterday
I stood in a crowded street that was live with people,
and no one spoke a word, and the morning shone.
Everyone silent, moving. . . . Take my hand. Speak to me.”
—Muriel Rukeyser (1913–1980)