In this article, we delve into the details of three influential tax treaty models: the OECD Model Tax Treaty, the US Model Tax Treaty, and the UN Model Tax Treaty. These models lay the groundwork for cross-border tax cooperation, addressing critical aspects such as Permanent Establishment, Dividends, Interest, Royalties, Capital Gains, Limitation on Benefits, and

Navigating the world of international taxation can be a daunting task, especially when it comes to dealing with double taxation. As individuals and businesses engage in cross-border activities, they often find themselves burdened with multiple tax liabilities, hindering economic growth and stifling opportunities. However, there is a glimmer of hope in the form of the

A controlled foreign company (CFC) is a term used in international tax law to describe a company located in a foreign country that is controlled by residents or entities of another country. The concept of CFCs is designed to prevent tax avoidance by individuals or businesses who shift their profits to low-tax or no-tax jurisdictions.

Journal entry for cash deposited in the bank has become redundant because of cashless transactions. However, small businesses still accept cash in their bank accounts.  Journal entry of cash deposited in a bank account as follows: Debit – Bank account Credit – Cash account  Explanation of cash deposited in a bank journal entry. As a rule of thumb, we

Financial statements provide a clear picture of a company’s financial health. They show whether the company is profitable and how much profit it makes. Most people feel intimidated by financial statements. That’s why so many of us have no idea how to interpret them. You may be confused by the endless stream of jargon, acronyms,