Territorial Tax System

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Territorial tax system

A tax system that taxes domestic income but not foreign income. Territorial tax regimes are found in Hong Kong, France, Belgium, and the Netherlands.

Any tax system that only taxes income earned in that country. For example, if one lives in Belgium, one only owes taxes on income earned in Belgium. If one conducts a great deal of business in Great Britain, income from that business is not taxed in Belgium (though it may be taxed by the UK). Only a few countries have territorial tax systems; prominent examples include Hong Kong and France.

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No references found			They justified such an extension of the territorial system of tax by referring to certain Supreme Court judgements which opined that even in a territorial tax system in certain circumstances, the overseas income could be taxed if there was Eoe1/4Eoan economic dependenceEoe1/4A[yen] of such overseas activities to the activities carried out locally. Oman moves towards global taxation system by Times of Oman (Muscat, Oman) Many companies have been pushing for a move to a territorial tax system similar to many of our trading partners. Active corporate and business tax agenda expected by Luscombe, Mark A. / Financial Executive 937 (2004); Treasury Approaches, supra note 2, at 54-65 (considering move toward a territorial tax system that would exempt active income earned by U. Is the corporate tax system "broken"? by Burke, Karen C. / Virginia Tax Review			term loan term monthly advance reverse mortgage Term Premium Term Premiums Term Repo Term Sheet term structure of interest rates Term to Maturity Term Trust Terminable Marital Trust Terminal Elevator terminal value Terminal Year Terminally Ill terminate termination date Termination Fee Termine termite bond termite clause Terms of Delivery Terms of Sale Terms of Trade terotechnology Terrenos Territorial Tax System Territory Bond Terrorist Terrorist Group Tesorero Tesouro test Testacy Testaferro testament testamentary trust Testate testator testatrix Testcheck Testdeck testimonium clause Teto de endividamento Tetra Tetri TEU Texas Hedge TF TG TH Thai Baht			territorial matrix territorial matrix territorial matrix Territorial Multimedia Information System on Industrial Areas Territorial Nurses Association Territorial Nurses Association Territorial Nurses Association Territorial Nurses Association Territorial occupation Territorial occupation Territorial Office of Fiscal Reform Territorial Prelate territorial range of authority territorial reserve Territorial Residents Territorial revisionism Territorial revisionism Territorial revisionism Territorial Revival Territorial sea Territorial sea Territorial sea Territorial sea Territorial seas Territorial seas Territorial seas Territorial seas territorial shape Territorial Statehouse State Park Territorial style Territorial Tax System Territorial Teacher Training Assistance Program Territorial Use Rights in Fisheries Territorial Vision Action Team territorial waters territorial waters territorial waters territorial waters territorial waters Territorial-Based Rural Development Territorial-Militia System Territorial-Production Complex territorialisation territorialise territorialism territorialist territorialities territorialities territorialities territorialities territoriality territoriality territoriality territoriality territorialization territorialize territorialized territorializes territorializing territorially territorially

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