Question 1

Discuss in brief about some of the most useful resources offered within the CCH International Tax Service.

Accepted Answer

CCH offers numerous international tax products that provide primary documents combined with authoritative analyses written by experts in the field. To provide these products, CCH has teamed up with other publishers and outside authors. The following products are some of the most useful resources offered within the CCH International Tax Service.
Worldwide Tax Rates and Answers: This service provides corporate tax rates by country, including national and local tax rates, as well as current forms and instructions for countries around the world.
Transfer Pricing: There are four publications on transfer pricing: (1) Tax Treatise: Transfer Pricing Rules Compliance and Controversy, (2) International Transfer Pricing, (3) U.S. Transfer Pricing Guide, and (4) Developing a Transfer Pricing Policy. All four are written by subject-matter experts.
U.S. International Tax Compliance and Planning: This library contains four outside-authored explanations of U.S. international tax rules: (1) International Taxation: U.S. Taxation of Foreign Persons and Foreign Income, (2) International Taxation: Corporate and Individual, (3) Practical Guide to U.S. Taxation of International Transactions, and (4) International Tax Commentaries.
International Tax Planning Library: This library consists of three comprehensive publications and a practical newsletter exploring tax-planning issues from around the world. The three publications cover international tax planning for corporations, expatriates, and migrants, and offshore financial centers, for more than 40 countries.
International Tax Treaty Expert Library: Thousands of treaties (with amended language in context) and related documents, such as diplomatic notes and protocols, are available, and all are in English. The treaties cover income, estate and gift taxes, sea and air transport, and information exchange agreements. Some of the analytical works included in the service are Klaus Vogel on Double Taxation Conventions; International Taxation, U.S. Taxation of Foreign Persons & Foreign Income; The Compatibility of Anti-Abuse Provisions in Tax Treaties with EC Law; The Impact of Community Law on Tax Treaties-Issues and Solutions; and The 1996 United States Model Income Tax Convention, Analysis, Commentary and Comparison.

Question 2

The U.S. blended tax model encourages U.S. domestic corporations to retain earnings in foreign countries and postpone repatriation as long as possible.

Accepted Answer

A) True 
 B)False  True

Question 3

When deciding where to locate new plants or headquarters, businesses must consider the level of:

Accepted Answer

A)  revenues
B)  expenses
C)  diversions
D)  state and local taxation A

Question 4

The Tax Service that offers an extensive library of databases for state tax research reached through its State Materials tab is called:

Accepted Answer

A)  LexisNexis Academic
B)  Bloomberg BNA
C)  Westlaw Campus
D)  Checkpoint SALT

Question 5

The easiest way to access international documents on LexisNexis Academic is through the:

Accepted Answer

A)  sources tab
B)  search tab
C)  find tab
D)  none of these are correct

Question 6

U.S. tax law uses a territorial approach for taxing non-U.S. taxpayers.

Accepted Answer

A) True 
 B)False

Question 7

Generally, state constitutions limit the rates and types of taxes that can be imposed, and they require that tax laws show uniformity, provide equal protection, and have a:

Accepted Answer

A)  good background
B)  profitable end
C)  public purpose
D)  referendum

Question 8

The transfer pricing rules target multinational companies that use the price-setting process in intercompany transactions to report low taxable income in high-tax countries and high taxable income in low-tax countries.

Accepted Answer

A) True 
 B)False

Question 9

Tax treaties can prevent double taxation by:

Accepted Answer

A)  providing reduced tax rates and reduced withholding
B)  not allowing the exemption of certain types of income from taxation
C)  including a "savings clause"
D)  all of these are correct

Question 10

Briefly explain the U.S. blended model of international taxation and the purpose of the foreign tax credit.

Accepted Answer

The answer of Briefly explain the U.S. blended model of...

Question 11

Westlaw's two portals to international taxation material portals are limited to:

Accepted Answer

A)  foreign companies only
B)  all academic institutions
C)  only law schools
D)  free materials

Question 12

From an economic perspective, the objective of the international tax rules of each country should be to:

Accepted Answer

A)  prevent other countries from copying it
B)  ease taxing system interactivity
C)  shelter profits
D)  discourage investments

Question 13

The tax service that provides state-by-state access to all the state-level tax laws and regulations as well as a host of analysis and other editorial materials is called:

Accepted Answer

A)  IntelliConnect State
B)  Bloomberg BNA State
C)  Checkpoint SALT
D)  Lexis Advance Tax

Question 14

The Checkpoint tax product which provides a comprehensive set of analytical treaties and texts is named:

Accepted Answer

A)  RIA International Taxes Weekly
B)  Tax Management Portfolios
C)  RIA International Tax Library (ITL) 
D)  Worldwide Tax Treaties

Question 15

Generally, local governments are authorized to impose taxes by the:

Accepted Answer

A)  state statutory or constitutional provisions
B)  state Governor
C)  President of the United States
D)  Chairman of the U. S. Treasury

Question 16

Generally, inventory sales are sourced by the location of the transaction.

Accepted Answer

A) True 
 B)False

Question 17

How is the source of income determined for the purpose of taxation? Briefly identify the sourcing rules for the following types of income: dividends, services, sales of inventory and income from property.

Accepted Answer

The answer of How is the source of income determined...

Question 18

Which federal Constitutional clause limits the territorial scope of a state's taxing authority?

Accepted Answer

A)  Supremacy Clause
B)  Commerce Clause
C)  Equal Protection Clause
D)  Due Process Clause

Question 19

Most states in the United States use which type of judicial system?

Accepted Answer

A)  only superior courts
B)  one-tier judicial system
C)  two-tier judicial system
D)  three-tier judicial system

Question 20

Westlaw offers the business primers, "Doing Business in…" for a variety of countries, which provide an overview of different countries' tax environments.

Accepted Answer

A) True 
 B)False

Exam 9: Multijurisdictional and Other Research

Discuss in brief about some of the most useful resources offered within the CCH International Tax Service.

The U.S. blended tax model encourages U.S. domestic corporations to retain earnings in foreign countries and postpone repatriation as long as possible.

When deciding where to locate new plants or headquarters, businesses must consider the level of:

The Tax Service that offers an extensive library of databases for state tax research reached through its State Materials tab is called:

The easiest way to access international documents on LexisNexis Academic is through the:

U.S. tax law uses a territorial approach for taxing non-U.S. taxpayers.

Generally, state constitutions limit the rates and types of taxes that can be imposed, and they require that tax laws show uniformity, provide equal protection, and have a:

The transfer pricing rules target multinational companies that use the price-setting process in intercompany transactions to report low taxable income in high-tax countries and high taxable income in low-tax countries.

Tax treaties can prevent double taxation by:

Briefly explain the U.S. blended model of international taxation and the purpose of the foreign tax credit.

Westlaw's two portals to international taxation material portals are limited to:

From an economic perspective, the objective of the international tax rules of each country should be to:

The tax service that provides state-by-state access to all the state-level tax laws and regulations as well as a host of analysis and other editorial materials is called:

The Checkpoint tax product which provides a comprehensive set of analytical treaties and texts is named:

Generally, local governments are authorized to impose taxes by the:

Generally, inventory sales are sourced by the location of the transaction.

How is the source of income determined for the purpose of taxation? Briefly identify the sourcing rules for the following types of income: dividends, services, sales of inventory and income from property.

Which federal Constitutional clause limits the territorial scope of a state's taxing authority?

Most states in the United States use which type of judicial system?

Westlaw offers the business primers, "Doing Business in…" for a variety of countries, which provide an overview of different countries' tax environments.