Imputation system and Jurisdiction: Difference between pages

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''Tax.''
1. ''Law''.


A system formerly used in the UK and most other EU countries, which wholly or partially imputes to the shareholders some of the corporation tax paid by companies on the income out of which dividends are paid.
The legal authority of a court to try cases and rule on legal matters within a particular geographic area and/or over certain types of legal cases.


The mechanism for imputation is a tax credit given to the shareholders at the time of a dividend, which can be used in full or partial payment of the individual's income tax liability.
Jurisdiction is very important for the practical enforceability of legal rights, for example contractual rights.




By contrast, 'classical system' tax rules - for example in the US - do not normally give any credit to individual investors for the corporate tax already paid by the corporations in which they have invested. 


This results in the effective double taxation of the related business profits.
2.


Similar legitimate rights enjoyed by law enforcement agencies, for example the police of a particular state.


The UK used an imputation system up to 2016. 


From 2016 onward, the UK has used a classical system.  
3.
 
The geographical or other area which is subject to a particular legal system or the authority of its law enforcement agencies, or more usually both. 
 
For example, a country.
 
 
4.
 
In relation to tax, a geographical or other area which is subject to a particular tax system or its tax authorities, or both. 
 
For example, a country or a state, or indeed any authority which has legitimate powers to levy tax.




== See also ==
== See also ==
* [[Corporation Tax]]
* [[Capacity]]
* [[Dividend]]
* [[Contract]]
* [[EU]]
* [[Court]]
* [[Income Tax]]
* [[Governing law]]
* [[Tax credit]]
* [[Law]]
* [[Proper law]]
* [[Regime]]
* [[Regulation]]
* [[Repatriated]]
* [[Resident]]
* [[State]]
* [[State immunity]]
* [[Tax]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Compliance_and_audit]]
[[Category:Compliance_and_audit]]

Revision as of 15:53, 5 July 2022

1. Law.

The legal authority of a court to try cases and rule on legal matters within a particular geographic area and/or over certain types of legal cases.

Jurisdiction is very important for the practical enforceability of legal rights, for example contractual rights.


2.

Similar legitimate rights enjoyed by law enforcement agencies, for example the police of a particular state.


3.

The geographical or other area which is subject to a particular legal system or the authority of its law enforcement agencies, or more usually both.

For example, a country.


4.

In relation to tax, a geographical or other area which is subject to a particular tax system or its tax authorities, or both.

For example, a country or a state, or indeed any authority which has legitimate powers to levy tax.


See also

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