TAX AUDIT

Taxation on Insurance Business

Insurance business is a unique in that it undertakes risks on behalf of individuals and companies. Provides unique service to public, private institutions and individuals. It is an independent, objective, assurance and business activity designed to ensure that an insured person who has suffered a loss should not profit from a loss or damage but should be returned (as near as possible) to the same financial position that existed before the loss or damage occurred, subject to any contractual limitation as to the amount payable. The industry has been profitable for many years and has been an important aspect of private and public long-term finance and that is why it is important to understand how to ascertain and assess the taxable income from the insurance industry

Tax audit of Tourism Sector

Hotels Determination of IncomeHotels Major ExpenditureTour Firms Determination of IncomeTour Firms Major ExpenditureRisks of Revenue Leakage in Tourism IndustryTransfer PricingFranchise/Management FeesCasino IncomeExchange Losses/Gains

INTERNATIONAL TAXATION -DOUBLE TAXATION

ContentsThe Principles of a Double Taxation AgreementMechanisms to Avoid Double TaxationAgreement ModelsHistorical Background of Model ConventionsObjectives of Tax TreatiesPurpose of TreatiesPrimary objective of a Tax TreatyProcedural Aspects of Tax Treaty NegotiationsProcedures for Bringing the Treaty Into Force