The objective of this introductory course is to try to develop a sense of the “flavor” of international tax. International tax is an extremely broad, challenging, important, and exciting field. The growing importance of international tax is matched by its difficulty. International tax rules are often the most technically difficult provisions of a country’s tax system. Rules such as thin capitalization rules, controlled foreign corporation rules, the indirect foreign tax credit, and rules for dealing with foreign exchange gains and losses are noted for their technical complexity. Tax advisers, tax officials and business executives working in the international arena must not only understand the international tax rules of their own country, but must also have an understanding of the tax laws of the other countries involved in a transaction and any tax treaties between the countries. The challenge is exacerbated by the pace of change in the rules governing international tax. These changes include new treaties, amendments to countries’ international tax legislation and administrative practice, and new commercial developments such as new financial products and electronic commerce.
This course provides a simple explanation of the basic international tax law principles. It outlines the most important facts about International Taxation from not only a European and a US point of view, but from the perspective of other countries as well. Key issues covered in this unique course are: Sources and Terms of International Tax Law, Double Taxation and its elimination, Double Taxation Treaties, US and European Tax Law and much more.
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