The Taipei-based smartphone and virtual reality device maker HTC reported its first quarter financial results on Tuesday, which noted a revenue of NT$8.8 billion and loss of NT$5.2 billion, while the deal to sell part of its smartphone assets to Google last September contributed a large amount of non-business income
and boosted profitability in Q1, after 11 straight quarters of loss.
Individuals with non-business income
are required to keep records for April 5, 2017, until January 31, 2019.
The most difficult piece of the calculation is determining whether a source of income is business or non-business income
IFRS requires, for instance, the compilation of a general income statement that includes non-business income
, thereby affecting a company's profit margin.
* The excess of non-business expenses over non-business income
must be added back (IRC section 172[d]).
Second, the national tax regimes of many Member States draw distinctions between business and non-business income
and assets, generally to prevent closely held companies from paying personal expenses of their shareholders.
" standard for deciding whether a source of income is apportioned (proportionally taxable by various states) or allocated (taxable by only one state).
"We are presently opposed to Senate Bill 430, which removes the long-accepted definitions of business and non-business income
and defers to a standard based on Supreme Court jurisprudence," he said in his role as tax lawyer to the State Chamber of Commerce.
income of foreign taxpayers, taxation of business and non-business income
, the transfer pricing problem, deferral and its limits, foreign tax credit, treaties and the future of the international tax regime.
(18.) A ruling of the Federal Finance Court (Bundesfinanzhol) of February 1999 has been widely interpreted as implying that the differential tax treatment of business and non-business income
even in the present split rate system might be unconstitutional.
The compact previously defined "business income" as "income arising from transactions and activity in the regular course of the taxpayer's trade or business and includes income from tangible and intangible property if the acquisition, management, and disposition of the property constitute integral parts of the taxpayer's regular trade or business operations." Also, "non-business income
"was "all income other than business income."
For example, IFRS requires the compilation of a general income statement that includes non-business income
, thereby providing a clearer picture of profit margins.