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 ?
58 of 2012 endorsing the agreement on the avoidance of dual taxation and prevention of financial evasion with regard to income tax between governments of Qatar and Albania, signed in Tirana on 18.
Of course, one of Bulgaria's major advantages is taxation a so far the 10% flat tax is a great asset to attract the French investors even though we have a kind of dual taxation treaty between Bulgaria and France, and it's not so clear how to take advantage of these lower taxes.
He has stated that the government has levied several taxes on the industry as dual taxation and an infringement of the operational actions of the airlines.
Islamic banks are still trying to overcome obstacles they face with the Central Bank of Lebanon and work out alternative options to these obstacles, such as dual taxation when buying and selling assets and with BDL prohibiting an investment of less than a six-month period.
Apart from the Action Plan and a dual taxation protocol, the two sides signed 13 other agreements and memoranda spanning a wide range of sectors, and a joint declaration concerning the 65th anniversary of the anti-fascist victory.
In cementing their cooperation, the two sides have signed an agreement on the avoidance of dual taxation and the prevention of income tax evasion.
There is a dual taxation rate for teas sold in the auctions.
The agreements are on cancelling dual taxation and boosting investments,as the MoU was signed in the field of economy and modern technology following talks held by both sides earlier.
The new initiative will see the company move its administration from its incumbent offshore Cayman base to Brussels, Belgium, in order to utilise dual taxation treaties between Belgium and the US.
It is also expected that Saudi investors will start considering Kazakhstan more seriously after the signing of the Avoidance of Dual Taxation Treaty and after negotiations for the Bilateral Investment Treaty have reached the final stages.
BAGHDAD - The Iraqi minister of finance has agreed with his Lebanese counterpart to sign an agreement to avoid dual taxation between the two countries, an Iraqi ministerial source said on Tuesday.
If you have a rental income from your overseas property you will be liable for income tax both there and the UK, unless there is a dual taxation agreement in place between the two countries.

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