Double entry and Double taxation treaties: Difference between pages

Revision as of 14:19, 23 October 2012

Tax. A set of bilateral agreements between two countries that set out the taxation rights of each country.

They are designed to facilitate international trade by avoiding double taxation where each country will seek to tax the same income or company.

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-.  ''Accounting''.
+''Tax.''
+A set of bilateral agreements between two countries that set out the taxation rights of each country.
-The dual aspect concept that every accounting transaction has two sides.
-Therefore the balance sheet should always remain in balance.
-For example, if services are sold by a company for cash, the company's Sales figure increases AND its Cash increases.
-Taking another example, if a company borrows money, its Cash increases AND its Liabilities (to repay the money in the future) also increase.
-This system is sometimes known as 'double entry bookkeeping'.
-.  ''Systems & controls - errors.''
-An error resulting from the inappropriate duplication - or inappropriate repetition - of an entry (or part of an entry) in a financial information system or elsewhere.
+They are designed to facilitate international trade by avoiding double taxation where each country will seek to tax the same income or company.
 == See also ==
-* [[Balance sheet]]
+* [[Double taxation]]
-* [[Book entry]]
-* [[Bookkeeping]]
-* [[Credit]]
-* [[Debit]]
-* [[Double counting]]
-* [[Duality principle]]
-* [[Journal entry]]
-* [[Lease]]
-* [[Off balance sheet finance]]
-[[Category:Accounting,_tax_and_regulation]]
-[[Category:Compliance_and_audit]]