CA Final International Taxation Syllabus

CA Final International Taxation Syllabus

CA Final International Taxation Syllabus

CA Final International Taxation Syllabus

CA Final International Taxation Syllabus: CA Final List of Elective papers Applicable from 1st July 2017 – On 1st June 2016, ICAI has announced that they are introducing changes in the CA Course and the new CA Course would be applicable from 1st July 2017

CA Final Syllabus is undergoing new changes in for the current year. And the changes can be implemented anytime of this year. We have the approx syllabus which is going to be implemented in the upcoming days. Let look at the changes and syllabus now.

CA Final International Taxation Syllabus: Here is the list of six subjects that are expected to be in list for students.

  • Risk Management: the forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
  • International Taxation:International taxation is the study or determination of tax on a person or business subject to the tax laws of different countries or the international aspects of an individual country’s tax laws as the case may be
  • Economic Laws: In the legal system of the Soviet Union, economic law was the legal theory and system under which economic relations were a legal discipline independent of criminal law and civil law. In the Law of the United States and some other legal systems this approximately corresponds to the commercial law (business law).
  • Financial Services & Capital Markets: Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds etc.
  • Global Financial Reporting Standards: International Financial Reporting Standards (IFRS) are designed as a commonglobal language for business affairs so that company accounts are understandable and comparable across international boundaries.
  • Multidisciplinary case studyMultidisciplinary Case Study On Higher Education: An Innovative Experience In The Business Management Degree.

You can download CA Final syllabus and subjects pdf may 2018 by clicking on the image below:CA Final Subjects

CA Final International Taxation Syllabus

Options Taxation SubjectMarksRemarks
FirstInternational100 marksSeparate subject (optional)
SecondInternational130 marks100 marks separate subject (optional)+

30 marks alongwith Direct Tax Laws (mandatory)

ThirdInternational30 marks100 marks optional subject not introduced – International Taxation introduced only with Direct Taxes (mandatory)
FourthInternationalNo separate allocation of marksExisting CA Final Syllabus content remains same

CA Final International Taxation Syllabus

CA FINAL

CA FINAL

 Click here to know about CA Final Elective Paper

CA Final International Taxation Syllabus

Definition, Goals and Objective for International Taxation 

International taxation is the study or determination of tax on a person or business subject to the tax laws of different countries or the international aspects of an individual country’s tax laws as the case may be. Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorial income. The manner of limitation generally takes the form of a territorial, residence-based, or exclusionary system. Some governments have attempted to mitigate the differing limitations of each of these three broad systems by enacting a hybrid system with characteristics of two or more.

Many governments tax individuals and/or enterprises on income. Such systems of taxation vary widely, and there are no broad general rules. These variations create the potential for double taxation (where the same income is taxed by different countries) and no taxation (where income is not taxed by any country). Income tax systems may impose tax on local income only or on worldwide income. Generally, where worldwide income is taxed, reductions of tax or foreign credits are provided for taxes paid to other jurisdictions. Limits are almost universally imposed on such credits. Multinational corporations usually employ international tax specialists, a specialty among both lawyers and accountants, to decrease their worldwide tax liabilities.

With any system of taxation, it is possible to shift or recharacterize income in a manner that reduces taxation. Jurisdictions often impose rules relating to shifting income among commonly controlled parties, often referred to as transfer pricing rules. Residency-based systems are subject to taxpayer attempts to defer recognition of income through use of related parties. A few jurisdictions impose rules limiting such deferral (“anti-deferral” regimes). Deferral is also specifically authorized by some governments for particular social purposes or other grounds. Agreements among governments (treaties) often attempt to determine who should be entitled to tax what. Most tax treaties provide for at least a skeleton mechanism for resolution of disputes between the parties.

CA Final International Taxation Syllabus: Taxation System

Countries that tax income generally use one of two systems: territorial or residence-based. In the territorial system, only local income – income from a source inside the country – is taxed. In the residence-based system, residents of the country are taxed on their worldwide (local and foreign) income, while nonresidents are taxed only on their local income. In addition, a very small number of countries, notably the United States, also tax their nonresident citizens on worldwide income.

Countries with a residence-based system of taxation usually allow deductions or credits for the tax that residents already pay to other countries on their foreign income. Many countries also sign tax treaties with each other to eliminate or reduce double taxation. In the case of corporate income tax, some countries allow an exclusion or deferment of specific items of foreign income from the base of taxation.

CA Final International Taxation Syllabus

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