The open economy tax system is seeing rapid growth in the past few decades. National taxation is affected not only by the movement of goods within the country but also by the international capital and goods flow in the world economy.
They are integrated into one another directly or indirectly. International taxation deals with the taxes levied based on the country’s tax laws and other global laws. Tax treaties between nations are sometimes not clear to a common man.
Professionals with successful international taxation courses are becoming essential in Multinational business. Taxation for individuals, investors, firms and corporations varies, and the forecast differs.
Components of International Taxation Course and its Importance
International taxation is the study of taxes that are imposed on individuals or a business in accordance with the tax laws imposed in different countries. Taking up international taxation courses online is becoming more common with the covid-19 outbreak.
The course is mainly opted by executives of MNCs, CA aspirants, professionals working globally and all the business tycoons. In recent years, the general public is less aware of the concepts of International taxation. Since taxation varies and is not analogous, it is important to learn the means, methods, standards and policies in them.
Before applying for an international taxation course, one must understand the basic criteria of the background knowledge that is required for such a course. Eligibility to study International taxation courses is listed below:
- Candidates who are willing to apply must have completed a Bachelor’s degree or any relevant degree in accordance with the discipline.
- A final-year student can apply with their provisional certificates.
- Members of ICSI/ICAI/ICMA can also apply to the course.
The topics that are covered in the international taxation course are :
- Basics of international taxation, the foundation of a tax treaty, challenges and the future of tax treaties
- Taxation on Business profits according to international taxation laws
- Dividend and internet-based income taxation
- Taxation on sportspersons, salaried persons and directors
- Dependent personnel sales and capital gains
- Taxation on immovable properties
- Shipping business taxations and aircraft business taxation
- Tax disputes and facilitative features for tax avoidance
- Tax collection and application of tax treaties
- Avoiding two taxations as two countries are involved
- Fees and royalties for technical services
- The basics of transfer pricing
- e-commerce taxation
- M&A transactions
- Multilateral instruments
- Non-residents and their TDS payments – like an investment into India from Malaysia, the UK or the US.
Why choose an Online Taxation Course?
The job roles that can benefit from the international taxation course are:
- An international tax policy analyst is someone who conducts research and develops various tax strategies that could benefit the country and makes them implementable.
- The international accounting manager manages the daily operations of the accounting system.
- An international tax accountant assists with the financial queries and doubts of various clients.
Key highlights of taking up an online course owing to the current situation are that the classes can be more practical and interactive anywhere and anytime. The complete set of study materials is delivered before the commencement of the course.
Continual distance education mode is enabled with online assessments that are easy to attend, tutorial videos and practical training that is easy as one can record and replay any particular topic anytime. Future reference and revision are also easy. An online self-paced lesson with videos and MCQs is also available.