double taxation

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double taxation

n. taxation of the same property for the same purpose twice in one year. This is generally prohibited if it occurs through such circumstances as transfer of property which has been taxed once and then the tax is imposed on a new owner. However, if all property in a jurisdiction is taxed twice in the same year, it is legal since not discriminatory or unfair.

References in periodicals archive ?
The double taxation avoidance agreements play an important part in allowing countries to implement their development strategies, diversify sources of income, and attract foreign investments.
NEW DELHI, Nov 18 (KUNA) -- The Indian Cabinet on Wednesday approved a protocol amending the Double Taxation Avoidance Agreement of 2006 between India and Kuwait for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
The government is also pursuing the issue of renegotiating double taxation avoidance agreement with Mauritius.
gains tax in the case of non- residents and the Income Tax Act and the Double Taxation Avoidance Agreement ( DTAA).
At an interactive session with representatives of trade and industry from all over the country, here, Mukherjee said: "The areas are: The concept of Minimum Alternative Tax (MAT) based on gross assets; Capital Gains Taxation in the case of non-residents; The Income Tax Act and the Double Taxation Avoidance Agreement (DTAA); General Anti-Avoidance Rule (GAAR); Issues relating to effective management control and taxation of foreign companies in India; Taxation of charitable organizations; and Shift from EEE to EET taxation system.
During the visit, Double Taxation Avoidance Agreement and Agreement for Cooperation in Small and Medium Enterprises were signed with Ethiopia.
Instead of entering into a TIEA these jurisdictions continue to insist on entering into a Double Taxation Avoidance Agreement ( DTAA).
Both sides also agreed to expedite talks for finalization of a double taxation avoidance agreement.
A Double Taxation Avoidance Agreement (DTAA) and an Investment Promotion and Protection Agreement (IPPA) between Mauritius and Kenya were signed this morning in Port Louis by the Vice-Prime Minister, Minister of Finance and Economic Development, Mr Xavier Duval, and the Minister of Finance of Kenya, Mr Robinson Njeru Githae.
A senior official familiar with the case claimed that the list includes high- profile names, but added that the government is under obligation not to reveal the information since the data had been procured under secrecy clause of the Double Taxation Avoidance Agreement ( DTAA).
INDIA and Switzerland on Monday inked an updated double taxation avoidance agreement.
According to international tax law expert and former IRS officer Vijay Mathur, " The discussion paper has reverted back to the Income Tax Act, 1961 which states that between the domestic law and a particular international double taxation avoidance agreement ( DTAA) , the one which is more beneficial to the taxpayer will apply.