“Most favoured nation” status concept
This is where one country in a particular region is given a preference tax treatment by another country. The country that is favoured is considered as a strategic trading partner. Usually new rules regarding the flow of trade between the two countries are introduced e.g. china is given the most favoured status by the USA.
The benefits of this status are:-
i) To facilitate trade between the two countries
ii) Ensure transfer exchange of goods and services
iii) Foster economic co-operation
iv) Facilitate exchange of technical experts and invest most in the two countries.
Wilfykil answered the question on February 25, 2019 at 10:54
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Daniel Otwori, a resident of Kenya earned income from the countries listed below during the year ended 31 December 2006. Income from Kenya: ksh 1,765,000
(Solved)
Daniel Otwori, a resident of Kenya earned income from the countries listed below during the year ended 31 December 2006. Income from Kenya: ksh 1,765,000
Income from United Kingdom (UK) UK £4,800 net Tax deducted amounted to UK £960. The average exchange rate during the year was 1 UK £ = 140 KSH, .A double taxation agreement exists between Kenya and United Kingdom.
Required:
The double taxation relief (in Kenya shillings) due to Daniel Otwori for the year ended 31 December 2006.
Date posted:
February 25, 2019
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Answers (1)
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A few countries and regions in the world have established themselves as tax havens. However, the anticipated inflow of investments has not been as high...
(Solved)
A few countries and regions in the world have established themselves as tax havens. However, the anticipated inflow of investments has not been as high as expected by these countries and regions:
Required:
i. Briefly describe the concept of ‘tax havens’
ii. Summarize three benefits that might accrue to an investor in a tax haven
Date posted:
February 25, 2019
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Answers (1)
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Hodari Nkan is resident of Kenya. During the year ended 31 December 2010, he received the following income:
(Solved)
Hodari Nkan is resident of Kenya. During the year ended 31 December 2010, he received the following income:
From Kenya: Sh. 720,000
From Zambia Sh. 540,000 (net of tax of sh. 78,000)
Assume that Kenya has a double taxation agreement with Zambia
Required:
The double taxation relief due to Hodari Nkan for the year ended 31 December 2010
Date posted:
February 25, 2019
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Answers (1)
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A generalized system of preference (GSP) applies where a country grants preferential treatment to goods and services received from another country.
(Solved)
A generalized system of preference (GSP) applies where a country grants preferential treatment to goods and services received from another country.
Required:
Describe three general conditions to be fulfilled for goods or services from one country to benefit from a GSP.
Date posted:
February 25, 2019
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Answers (1)
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(Solved)
Explain how the tax legislation in your country attempts to prevent creative accounting by multinational companies
Date posted:
February 25, 2019
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Answers (1)
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(Solved)
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Date posted:
February 25, 2019
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(Solved)
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Date posted:
February 25, 2019
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Answers (1)
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(Solved)
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Date posted:
February 25, 2019
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(Solved)
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Date posted:
February 25, 2019
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Answers (1)
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(Solved)
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Date posted:
February 25, 2019
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Answers (1)
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(Solved)
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Date posted:
February 25, 2019
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(Solved)
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Date posted:
February 25, 2019
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(Solved)
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Date posted:
February 25, 2019
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Date posted:
February 25, 2019
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Date posted:
February 25, 2019
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(Solved)
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Date posted:
February 25, 2019
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Date posted:
February 25, 2019
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Date posted:
February 25, 2019
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(Solved)
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Date posted:
February 25, 2019
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Date posted:
February 25, 2019
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