| 释义 |
Territorial tax system Territorial tax systemA tax system that taxes domestic income but not foreign income. Territorial tax regimes are found in Hong Kong, France, Belgium, and the Netherlands.Territorial Tax SystemAny tax system that only taxes income earned in that country. For example, if one lives in Belgium, one only owes taxes on income earned in Belgium. If one conducts a great deal of business in Great Britain, income from that business is not taxed in Belgium (though it may be taxed by the UK). Only a few countries have territorial tax systems; prominent examples include Hong Kong and France. |