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 ?
Proposed changes to the OECD Model Tax Convention are intended to prevent tax treaty abuse, including the addition of a limitation-of-benefits rule and a general anti-abuse rule.
com)-- IBFD is proud to present the IBFD Global Tax Treaty Commentaries (GTTC), a revolutionary online publication for the analysis of tax treaty practices across the globe.
According to the Express Tribune, the government has said that it will hold talks with Switzerland over a new tax treaty in order to recover 200 billion dollars stowed illegally in the central European country's secretive banking system.
ISLAMABAD -- A Pakistani delegation would visit Switzerland from August 26 to 28 to negotiate with Swiss authorities to upgrade the existing Pak-Swiss Tax Treaty, Parliamentary Secretary for Finance Rana Muhammad Afzal Khan said Friday.
At present, MENA companies benefit from low tax rates, investment incentives and extensive tax treaty arrangements, but are also expected to ensure full and correct tax compliance with the tax laws and regulations.
He also revealed that India has nullified the double tax treaty with Cyprus on the pretext that it did not receive responses to the question it sent to the Cypriot authorities.
Summary: The volume of foreign trade between the UAE and Russia is set to grow steadily in the coming years with increasing number of Russian companies looking to tap the potential of the Middle East markets through the UAE, benefiting from the double tax treaty signed between the two countries and the world-class business platforms, located within eight hours of flying time of two-thirds of the world's population.
To avoid paying tax on same income twice, one can use the provisions of the Double Taxation Avoidance Agreement ( DT), a tax treaty India has signed with many countries.
To avoid paying tax on same income twice, one can use the provisions of the Double Taxation Avoidance Agreement (DT), a tax treaty India has signed with many countries.
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.
Here, contributors from 30 jurisdictions offer short case summaries that provide information on the impact of important tax treaty cases decided in 2010 in various countries, much of it not available anywhere else in English.
1) Unless an applicable income tax treaty applies to reduce the rate of tax, FDAP income typically will be subject to a 30 percent gross basis withholding tax.