Multiple Taxation

Multiple Taxation

A situation in which the same earnings are taxed more than twice. For example, multiple taxation may occur when a publicly-traded company pays corporate taxes on its earnings. It then passes on some of those earnings to shareholders as dividends, on which they must pay a capital gains tax at the federal level and then again at the state level. Various means exist to reduce multiple taxation. See also: Tax avoidance.
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But steps meant to alleviate the multiple taxation of savings and investment are more than mere handouts to special interests; without them the economy suffers, and that hurts everyone.
Thus, a state cannot tax interstate transactions more heavily than intrastate transactions or impose a tax that discriminates against interstate commerce by providing a direct commercial advantage to local businesses or by subjecting interstate commerce to multiple taxation.
The minister noted that the Council also approved the introduction of a uniform taxation on property, to avoid multiple taxation from the local authorities and the central government.
In order to abolish the current multiple taxation regime, she committed an effective harmonisation of taxes and levies.
The Action Committee against Unabated taxation (ACAUT) was formed in 2013 under the aegis of the Naga Council to take up the issue of multiple taxation, price rise and other such problems concerning the people.
20) To subject multistate businesses to multiple taxation,
200 (1935), a Supreme Court case permitting tax-free liquidations to allow taxpayers to avoid potential multiple taxation of the same economic gain.
He also told lawmakers that an ad tax is unfair because it results in multiple taxation or a "turnover tax.
The danger of double or multiple taxation was a significant concern of business as tax base defense was to governments.
Taxation of non- resident investors, including Participatory Note ( PN) holders, investing, directly or indirectly, in the FII may lead to double or multiple taxation.
Philippines will be looking into Qatar's concern on multiple taxation levied by Philippine government.
Tariq Sayeed said that issues like lack of energy, law and order, Sales Tax and Income Tax audit, SRO191, high mark-up rates, want of amnesty schemes, held up refunds, smuggling, multiple taxation etc.
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