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double taxation

   Also found in: Financial, Wikipedia 0.01 sec.

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.



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4, 2009 (CENS)--Taiwan and China will sign a double tax avoidance agreement by the end of the year, exempting numerous Taiwanese people working in China from double taxation on their incomes by both governments.
THE MINISTRY of Finance has welcomed the approval by the Russian government of an agreement on the avoidance of double taxation initialled between the two countries earlier this year.
The Ministry of Finance has welcomed the approval on behalf of the Russian government of the signature to the ''Protocol to the Agreement for the Avoidance of Double Taxation Regarding the Taxes on Income and Capital between the Government of the Republic of Cyprus and the Government of the Russian Federation''.
 
 
 
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