double taxation


Also found in: Financial, Wikipedia.

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 ?
avoidance of double taxation in the area of taxes on income.
A statement issued by the Tax Administration Wednesday said the agreement aimed at solving the double taxation problems caused by the growing economic and commercial ties between the two countries.
Canco could argue that this treatment under the FIE Rules is inconsistent with Article XXIV (2)(b) of the Convention, which prevents certain double taxation between Canada and the U.
The LLP structure avoids double taxation of out-of-state partners, because the partners are the taxpayers in their state of residence and in Massachusetts.
to assure the desired valuation of the retained interest is not as detrimental as it would be if he held stock because cash distributions are not subject to double taxation and may be entirely avoidable.
Talk of the elimination of double taxation of dividends has breathed new life into large-cap stocks, especially the value issues that are perceived as being capable of raising payouts.
The House of Representatives ratified the agreement between the Government of Belarus and the Government of Sri Lanka on the avoidance of double taxation and prevention of tax evasion with respect to taxes on income, Belarus official news agency BelTA reported.
We will sign a new agreement on the prevention of double taxation in line with the norms of the Organization for Economic Cooperation and Development," Turkish Finance Minister Kemal Unakitan told reporters after a meeting with his Finnish counterpart Jykri Katainen in the Turkish capital, Ankara.
Countries can use one method or a combination to provide relief from international double taxation.
The revised procedure should be designed to reach a resolution of double taxation issues in as expeditious a manner as possible.
In the past, these disputes resulted in double taxation for corporations operating in more than one member state.
The latter are not subject to double taxation of dividends and pay income tax at the individual rate, while double taxation is cited as the biggest disincentive to organize as a C corp.