Question 1

How is the source of income determined for the purpose of taxation? Briefly identify the sourcing rules for the following types of income: dividends, services, sales of inventory and income from property.

Accepted Answer

The answer of How is the source of income determined...

Question 2

Westlaw offers the business primers, "Doing Business in…" for a variety of countries, which provide an overview of different countries' tax environments.

Accepted Answer

The answer of Westlaw offers the business primers, "Doing Business...

Question 3

U.S.-adopted tax treaties usually do not address state and local tax issues.

Accepted Answer

Tax treaties are negotiated and adopted at the federal level, and their provisions only apply to federal taxes. State and local taxes are governed by state and local laws, which are not affected by tax treaties.

Question 4

What is the International Bureau of Fiscal Documentation, and what is its mission?

Accepted Answer

The answer of What is the International Bureau of Fiscal...

Question 5

Worldwide Tax Rates and Answers, a service of CCH IntelliConnect, provides corporate tax rates by country, including national and local tax rates, as well as current forms and instructions for countries around the world.

Accepted Answer

The statement describes the features of Worldwide Tax Rates and Answers, a service provided by CCH IntelliConnect.

Question 6

Generally, inventory sales are sourced by the location of the transaction.

Accepted Answer

Inventory sales are typically sourced based on the location of the transaction, meaning that the physical location where the sale takes place is considered the source of the sale for tax and accounting purposes. This can impact how sales tax is calculated and reported, as well as how inventory is valued and accounted for in financial statements.

Question 7

Checkpoint offers the unique RIA International Create-A-Chart function that facilitates the creation of tax-comparison charts with links to controlling authority, detailed explanations, and analysis by WG&L treatises.

Accepted Answer

Checkpoint offers the unique RIA International Create-A-Chart function that facilitates the creation of tax-comparison charts with links to controlling authority, detailed explanations, and analysis by WG&L treatises.

Question 8

Briefly explain the U.S. blended model of international taxation and the purpose of the foreign tax credit.

Accepted Answer

The answer of Briefly explain the U.S. blended model of...

Question 9

"The Code provisions always take precedence over treaty provisions." Comment.

Accepted Answer

The answer of "The Code provisions always take precedence over...

Question 10

A native country's taxation of its citizens' foreign-source income involves inbound transactions.

Accepted Answer

Taxation of a native country's citizens' foreign-source income involves outbound transactions, as it pertains to the country taxing its residents on income earned outside its borders.

Question 11

U.S. tax law uses a territorial approach for taxing non-U.S. taxpayers.

Accepted Answer

U.S. tax law distinguishes between domestic and foreign taxpayers, and uses a territorial approach for taxing the income of non-U.S. taxpayers that is sourced outside the United States. This means that non-U.S. taxpayers are generally only subject to U.S. tax on income that is effectively connected with a U.S. trade or business, or on certain types of U.S. source passive income, such as interest, dividends, and royalties.

Question 12

BNA offers Country Portfolios covering the taxation of business operations in specific countries.

Accepted Answer

BNA does offer Country Portfolios on taxation of business operations in specific countries.

Question 13

The newsletter, International Taxes Weekly, is published by Westlaw.

Accepted Answer

International Taxes Weekly is published by Thomson Reuters, not Westlaw. Westlaw is a legal research service provided by Thomson Reuters.

Question 14

CCH IntelliConnect offers the International Tax Planning Library.

Accepted Answer

CCH IntelliConnect does offer the International Tax Planning Library.

Question 15

Tax Notes International, published by the Tax Analysts, is a weekly publication.

Accepted Answer

Tax Notes International is indeed published weekly by Tax Analysts.

Question 16

Originally, the International Bureau of Fiscal Documentation (IBFD) was simply a document repository, but now it provides expert research products.

Accepted Answer

The statement is true. IBFD was initially a repository for tax documents, but it has now expanded to provide expert research products on taxation.

Question 17

Westlaw offers one portal to international taxation materials through the standard service, Westlaw Taxation.

Accepted Answer

Westlaw offers a variety of specialized services, and international taxation materials may not be available through the standard Westlaw Taxation service. Access to specific international resources may require additional subscriptions or services.

Question 18

A "saving clause" in U.S. treaties prevents U.S. residents from using treaty provisions to avoid taxes on U.S. source income.

Accepted Answer

A saving clause is a provision in a treaty that allows a country to exempt specific types of income or taxpayers from the treaty's benefits. In the case of U.S. treaties, the saving clause ensures that U.S. residents cannot use treaty provisions to avoid taxes on U.S. source income.

Question 19

Why are taxpayers emphasizing multijurisdictional tax planning?

Accepted Answer

The answer of Why are taxpayers emphasizing multijurisdictional tax planning?...

Question 20

Discuss in brief about some of the most useful resources offered within the CCH International Tax Service.

Accepted Answer

The answer of Discuss in brief about some of the...

Quiz 9: Multijurisdictional and Other Research

How is the source of income determined for the purpose of taxation? Briefly identify the sourcing rules for the following types of income: dividends, services, sales of inventory and income from property.

Westlaw offers the business primers, "Doing Business in…" for a variety of countries, which provide an overview of different countries' tax environments.

U.S.-adopted tax treaties usually do not address state and local tax issues.

What is the International Bureau of Fiscal Documentation, and what is its mission?

Worldwide Tax Rates and Answers, a service of CCH IntelliConnect, provides corporate tax rates by country, including national and local tax rates, as well as current forms and instructions for countries around the world.

Generally, inventory sales are sourced by the location of the transaction.

Checkpoint offers the unique RIA International Create-A-Chart function that facilitates the creation of tax-comparison charts with links to controlling authority, detailed explanations, and analysis by WG&L treatises.

Briefly explain the U.S. blended model of international taxation and the purpose of the foreign tax credit.

"The Code provisions always take precedence over treaty provisions." Comment.

A native country's taxation of its citizens' foreign-source income involves inbound transactions.

U.S. tax law uses a territorial approach for taxing non-U.S. taxpayers.

BNA offers Country Portfolios covering the taxation of business operations in specific countries.

The newsletter, International Taxes Weekly, is published by Westlaw.

CCH IntelliConnect offers the International Tax Planning Library.

Tax Notes International, published by the Tax Analysts, is a weekly publication.

Originally, the International Bureau of Fiscal Documentation (IBFD) was simply a document repository, but now it provides expert research products.

Westlaw offers one portal to international taxation materials through the standard service, Westlaw Taxation.

A "saving clause" in U.S. treaties prevents U.S. residents from using treaty provisions to avoid taxes on U.S. source income.

Why are taxpayers emphasizing multijurisdictional tax planning?

Discuss in brief about some of the most useful resources offered within the CCH International Tax Service.