liangfeng

Residence is a tax related definition...... long story short it is to define where you are "from". Generally you are a resident of a country depends on a test of certain things.... aka where your primary residence is, where your bank accounts are, drivers license etc...

For the exam..... generally where the money is generated is the source... and generally where the primary living location is the residence.... So someone who travels to Europe 6 months a year from the US to sell textbooks...... his residence is US and his source income is half in Europe.