double taxation

(redirected from Double Taxation Avoidance Agreement)
Also found in: Financial, Acronyms.

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 ?
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).
A double taxation avoidance agreement has been ratified by the Bangladesh and Kuwait in a bid to boost bilateral trade and investment between the two countries.
INDIA and Switzerland on Monday inked an updated double taxation avoidance agreement.
The information from the German tax body was provided under the article concerning exchange of information of the Double Taxation Avoidance Agreement ( DTAA) between India and Germany, he said.
Senate Resolution 613, or the Double Taxation Avoidance Agreement (DTAA) between the Philippines and Mexico;
Shura Council's committee approves double taxation avoidance agreement with Thailand.
The notification by CBDT stated, "Number of references that have been received from time to time regarding the acceptance of applications pertaining to the aforementioned cases, where the Associated Enterprise (AE) of the Indian entity is resident of a country with which India has entered into a Double Taxation Avoidance Agreement (DTAA) but the agreement does not contain Paragraph 2 of Article 9 (or its relevant equivalent Article) of the OECD Model Tax Commentary relating to 'Corresponding Adjustment'.
As per the memo, the two sides will foster cooperation as regards removing all tax hurdles blocking investments, applying the double taxation avoidance agreement, settling any conflict that might emerge while applying the agreement on encouraging investments.
He referred to the double taxation avoidance agreement the two sides signed last year, pointing out that India offers excellent investment opportunities for Cypriot entrepreneurs.
As part of the renegotiation of its Double Taxation Avoidance Agreement (DTAA) with India, Mauritius lost an historical tax advantage, but also gained a new one on interest income related to debt, meaning that the island's financial sector will maintain competitive advantages and continue to attract net financial inflows.
The government has taken a number of steps to curb black money, including setting up of a Special Investigation Team (SIT); enacting a law pertaining to undisclosed foreign income and assets; amending the Double Taxation Avoidance Agreement between India and Mauritius, and India and Cyprus; reaching an understanding with Switzerland for getting information on bank accounts held by Indians with HSBC; encouraging the use of non-cash and digital payments; amending the Benami Transactions Act; and implementing the Income Declaration Scheme 2016.
THE Double Taxation Avoidance Agreement ( DTAA) between India and Cyprus that provides for source- based taxation of capital gains on transfer of shares instead of one based on residence got the Cabinet's approval on Wednesday.