Domicile

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Domicile

A place where one maintains one's primary residence for tax purposes. One proves a domicile by registering to vote, maintaining a driver's license, and/or actually living in the place. It is important to note that one usually but does not always live in the domicile. Indeed, domiciles are somewhat controversial, especially in Britain. This is because many foreign workers claim other places as their domicile in order to avoid taxes on worldwide income. For example, a resident of Britain with a house in Oklahoma may register to vote in Oklahoma and claim this as their domicile. Thus, the resident only pays taxes on income earned in the United Kingdom. Lawmakers have made various suggestions on how to close to loophole but one may still take advantage of it.

Domicile.

Your domicile is your permanent residence, which you demonstrate by using it as your primary home, holding a driver's license using that address, and registering to vote in that district.

Your domicile affects your state and local income taxes, state estate and inheritance taxes, and certain other tax benefits or liabilities.

domicile

The place of one's principal residence.

References in periodicals archive ?
The employees of government departments have been asked to submit their original degrees and domiciles with the authorities concerned in this regard.
In this connection a ceremony was held at Govt Higher Secondary School Ghallanai Mohmand Agency where Political Agent (PA) Mohmand Agency Mehmood Aslam Wazir along with official of education department distributed 750 free domicile certificate among boys and girls to be filled by the school head master a senior teacher and two tribal elders of the area to facilitate the schoolchildren of 9th and 10th classes.
He said the principal of each educational institution would verify the personal information of each student and the concerned assistant commissioner, tehsildar and patwari would visit each school on weekly basis to sign and issue the domicile certificates to 9th and 10th graders initially.
And that choice of domicile can significantly impact their estate planning.
While companies will continue to use captives, their forms and domiciles will likely be undergoing substantial changes in the next several years.
Talking to reporters here on Friday, representatives of Barang Youth Jirga, a Non Governmental local welfare organization of the area including its president Said Nawab Khan, General secretary Zahorul Haq, Dr Muhammad Hassan, Mohammad Nazir Khan, Riaz Khan and others said that trend of getting of fake domicile certificate by the non residents has increased during past several months and dozens of non local had got the agency domicile.
When Domicile is Important for Servicemembers and Spouses
Guernsey, an onshore captive domicile with 343 captives was fourth and Barbados, an off-shore domicile, rounded out the top five with 270 captives.
And, beyond Europe, Ireland as a domicile for hedge funds has now overtaken Bermuda and the British Virgin Islands, according to the latest information from Hedge Fund Research (HFR).
Among Pacific Rim domiciles, leading domiciles include Hawaii, which at year-end 2007 had 163 captives; Singapore, which at yearend 2007 had 62 captives; and Labuan, which at 2007's year-end had 31.