StudentShare solutions
Triangle menu

Group Loss Relief and Double Taxation Relief - Essay Example

Not dowloaded yet

Extract of sample
Group Loss Relief and Double Taxation Relief

However, before understanding this type of relief, it is needed to understand what exactly double taxation is. Double taxation is defined as a situation in which a company may need to pay two or more taxes for the same asset, financial transaction or its income. Generally the situation of double taxation arises due to the overlapping of tax laws and jurisdiction between different countries when there is a company or individual residing in one country while doing business in another country. The double taxation relief helps in allowing a company or the individual to get the tax reduction from any one of its linked country, may be it is the residing country or the profit gaining country.
A group loss relief helps in allowing one company to surrender its current trading losses, excess management charges, and excess income charges to another company in the group. Here, the profits of the recipient company are set against the tax loss so that the surrendering company can get a payment on the basis of the tax saved. Again, it is common practice that a company or an individual residing in one country might want to make a taxable gain in terms or earnings and profits in another country. ...Show more

Summary

There are two major types of reliefs that a company can claim and make benefits out of them. They are group loss relief and double taxation relief. In group loss relief, a company is allowed to claim the benefits of various trading losses along with certain other reliefs of another company, provided both the companies belong to the same group…
Author : zkoch
Group Loss Relief and Double Taxation Relief essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Group Loss Relief and Double Taxation Relief"
with a personal 20% discount.
Grab the best paper

Related Essays

Disaster relief
(Cochrane HC, 1975,) The impending and critical requirement of clean and abundant energy has called for the use of further nuclear energy without addressing the safety concerns of this energy form or the operational stability of the facility. All these natural and artificial reasons have made humans a potential target for disasters to strike.
10 pages (2500 words) Essay
Disaster Relief Essay
In its course of journey from southern Bahamas to Florida, the hurricane caused dramatic effects causing damage of more than 200,000 residences only in the state of New Orleans (Cashell & Labonte, 2005). With due consideration towards the aspect of continuous destructive impact of Hurricane Katrina, the paper will be focused on evaluating the various responsive steps taken by the Government, Non-Governmental Organizations (NGOs) and other volunteer groups against the devastation that had taken place in the region.
3 pages (750 words) Essay
Disaster Relief Plan
Furthermore, the increased terrorist attacks have enhanced the need for NRF in order to address natural and human-led challenges through control, coordination, command and communication. It is in this context that the NRF is designed to perform immediate actions in order to save lives, protect assets and social environments and meet fundamental requirements of human beings.
5 pages (1250 words) Essay
Profiteering on Disaster Relief
Some companies and organizations view humanitarian efforts as corporate social responsibility. They mostly give aid in terms of funds, volunteering or offering expertise to disaster relief efforts. Others respond to disasters in order to make profits for their organizations.
3 pages (750 words) Essay
Financial relief
However, Megan has a right to claim for financial relief. Due to the fact that they can’t agree on the matter, there is need for the court to step in and decide on the amount of spousal support based on conditions established by the law. McIntyre and Sussman point out that modern purposes for spousal support are “to prevent a spouse from becoming dependent on a state, to ease the transition from married to single status, to serve as a supplement to a property settlement, and to compensate a spouse for household production during the marriage.”1 To determine whether Megan qualifies for spousal support, the court will need to consider a number of factors.
6 pages (1500 words) Essay
Poverty Relief

The authorof the paper states that to estimate the impact of such programs on poverty and to suggest reforms to them, analysts often either resort to a comparison of some summary poverty measures with and without the programs, or analyze the programs' “targeting errors” and how they vary with program reforms.

8 pages (2000 words) Essay
Corporate Taxation Essay
In any developed economy, the interaction of the Government becomes evident with the corporate world after a certain extent of time and hence the decision of the Government to levy taxes on the Industrial houses for the fiscal budgeting of the nation is called Corporate Taxation.
9 pages (2250 words) Essay
Business Taxation
The primary objective of the group loss relief is to make a group of companies perform variety of activities so that it can achieve the tax treatment as if a single entity is performing all those activities. The
2 pages (500 words) Essay
Disaster Relief
In its course of journey from southern Bahamas to Florida, the hurricane caused dramatic effects causing damage of more than 200,000 residences only in the state of New Orleans (Cashell & Labonte, 2005). With due consideration towards the aspect of
3 pages (750 words) Essay
World Relief jurnal
Staff and volunteers of World Relief cooperate with Americas immigrants and provide them help in the questions of language learning, cultural adaptation, job finding and taking the citizenship and providing future for their families. In recent past this
3 pages (750 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation