Meaning
This status defines the country where an individual or entity is primarily taxed.Definition
Tax residency identifies the country where a person or company is considered a resident for tax purposes, granting that nation primary taxing rights over their worldwide income.Determination Criteria
Factors include physical presence (days spent), domicile, permanent home, and economic ties. Tax treaties resolve dual residency issues.Tax Implications
Tax residents are typically taxed on global income. Non-residents are generally taxed only on income sourced within that country.Author
