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This article continues our series of articles on the source of income rules. Today, I will explain the general rule for individual personal services income sourcing. I want to emphasize that, in this essay, I will focus only on individuals and provide only the general rule with two exceptions. Future articles will cover more specific […]
On December 19, 2018, the UK officials confirmed that Bitcoin payments received by UK tax residents will be subject to UK taxation. The HMRC is now clear: digital currency is not a currency or money. The exact purpose of a Bitcoin transaction seems to determine the exact tax treatment of it. For example, if you […]
As the EU talks on the single digital services tax have stalled, some major individual-member countries have moved to impose one independently in their own jurisdictions. On December 17 and 20, 2018, France and Italy announced their plans to impose their national digital services taxes. Spain and the United Kingdom already stated that they will […]
The Tax Cuts and Jobs Act of 2017 modified the tax brackets that existed in tax year 2017. In this short essay, I will discuss the new 2018 individual tax rates. 2018 Individual Tax Rates: Historical Background Tax rates seem to change every time there is a new President. For example, when President Bush got […]
This article is a continuation of a recent series of articles on the US source of income rules. In this article, I would like to introduce the readers to the interest income sourcing rules. Interest Income Sourcing: Definition of “Interest” Let’s first understand what is meant by the word “interest”. It is very curious that […]