Tax Treaty

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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 ?
The specific LOB rule proposed to be included in the convention is similar to the one that exists in the Model Tax Convention of the United States and is found in most tax treaties that the United States has entered into with other jurisdictions.
com)-- The Netherlands is offering the tax administrations of nine African countries a five-day training in Maintenance and Administration of Tax Treaties from 29 September to 3 October 2014.
As at 31 January 2014, Saudi Arabia has 29 effective double tax treaties with a further 22 treaties in process.
We will be given a short period of time to comply and we must rush again to correct things because with the current results, I regret to say, all those double tax treaties signed with fifty other countries will be in danger," he warned.
Capital Gains: Tax treaties with most countries do not exempt capital gains from tax, except DTs with Mauritius, Singapore and Cyprus.
Only a few tax treaties (such as Mauritius and some other countries) offer tax benefit on capital gains.
treaty summaries feature to Worldwide Tax Treaties, an online tool providing a comprehensive database of bilateral and multilateral tax treaties from around the world and news coverage of global tax treaty developments.
Canada has so far brought into force TIEAs with 16 jurisdictions and concluded or updated several tax treaties that include the OECD standard.
While the substantial majority of income tax treaties concluded by the United States reduce or even eliminate the 30 percent withholding tax on U.
of Luxembourg, the chapters address the reasons for the existence of juridical and economic double taxation, the applicability of approaches to double burdens in criminal law, constitutional limits on double taxation, the consequences of the abolition of Article 2193 EC (which obliged Member States to conclude tax treaties in order to eliminate double taxation), the application of the EU's four freedoms (guaranteeing the free movement goods, capital, services, and people within Europe) to double taxation, the possibilities for a multilateral tax treaty or the introduction of the Common Consolidated Corporate Tax Base, and the use of arbitration clauses in tax treaties.
Pursuant to the "PRC Individual Income Tax Law", the "Implementation Regulations of the PRC Individual Income Tax Law", the "Notice of the State Administration of Taxation in relation to the Administrative Measures on Preferential Treatments Entitled by Non-residents under Tax Treaties (Tentative)" (Guo Shui Fa [2009] No.
Model Treaty and the role and efficiency regarding the application of domestic anti-conduit rules by the United States on its double tax treaties, in light of international tax principles and purposes.