INCOME TAX

A bona fide foreign resident is a non-citizen who has established a permanent residence in a particular country and has been residing there for a specified period of time. Requirements: Residency: The foreign resident must have a valid residency permit or equivalent document issued by the host country. Permanent Residence: The residence must be a […]

Definition: Income tax is a mandatory payment levied on individuals and corporations by a government as a source of revenue. It is typically calculated based on a taxpayer’s income, salary, or business profits. Types of Income Tax: Progressive tax: A tax system in which higher incomes are taxed at a higher rate. Regressive tax: A […]

Definition: An expatriate is a person who lives in a country other than their own. The term is often used to describe foreign-born individuals living in a country other than their country of origin. Etymology: The word “expatriate” derives from the Latin word “expatriatus,” which means “expelled” or “driven out.” Types of Expatriates: Permanent expatriates: […]