Tax Treaty

(redirected from Bilateral Tax Agreement)
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Tax Treaty

A treaty between two countries governing double taxation and other matters when a company or individual owes taxes to both countries. Tax treaties are written because double taxation with no exceptions could result in a decrease in trade between the two countries. Most countries (except tax havens) have entered into tax treaties with their trading partners and others. A tax treaty is also called a bilateral tax agreement.
References in periodicals archive ?
Mumbai -- India is set to strike a bilateral tax agreement with the United States as early as this weekend, hoping to boost foreign investment and ease concerns raised by bruising disputes including cases against Vodafone and Shell.
It is part of the bilateral tax agreement between the Philippines and the US.
As Oman's economy continues to develop, I am optimistic that the robust economic relationship that Japan and Oman enjoy will continue to flourish as Prime Minister Abe hopes, particularly in light of the signing of the Bilateral Tax Agreement in January, which will encourage investment, and the substantial agreement reached during Bilateral Investment Agreement negotiations, which Japan hopes will be signed in the near future.
The United States does not have an investment treaty or a bilateral tax agreement with Chad.
Salem also said that Societe Generale, NSGB's parent company, will be exempt from the tax due to a bilateral tax agreement between Egypt and France preventing double taxation, "so they will pay their taxes in France only".
In fact, our mutual acceptance of these principles is reflected in this bilateral tax agreement," she added.
The new bilateral tax agreement is expected to further enhance the strong trade links between the two countries by minimising the double taxation of income that may occur as a result of economic activities.
It must be stressed that this is an illegal act if a country has enacted laws to prevent such practices or there is a bilateral tax agreement based on the OECD's MTC between the two nations concerned.
DTAAs are bilateral tax agreements between countries that provide for certainty on how and when an income will be taxed and by which country.
In July, the British Virgin Islands and the Cayman Islands joined the OECD "white list" of countries using recognized tax standards after signing at least 12 bilateral tax agreements.
residents or residents in nations that have bilateral tax agreements with Italy (i.
Additionally, those ADS holders who reside for tax purposes in Italy or in countries that have bilateral tax agreements with Italy are encouraged to promptly contact the Company or the ADR Department of The Bank of New York to inquire about the correct procedure to claim the reimbursement of the difference between the above mentioned 27 percent preliminary withholding tax and the withholding tax prescribed under the fiscal laws of their countries of residence.

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