Avoidance of Double Taxation definition

Avoidance of Double Taxation. The countries under the DTAA are provided relief from double taxation. Relief on double taxation is provided by the exemption of incomes earned abroad from tax in the resident country or by providing credit to the extent taxes that have been already been paid abroad.  Reduction of Tax Liability: By providing mechanisms such as tax credits, exemptions, or deductions, DTAA helps reduce the overall tax liability for taxpayers, allowing them to retain more of their income.  Clarity and Certainty: DTAA provides clear rules and guidelines for determining the tax obligations of taxpayers engaged in cross-border activities. This clarity helps businesses and individuals plan their finances effectively and avoid potential disputes with tax authorities.  Encouragement of Cross-Border Trade and Investment: DTAA promotes international trade and investment by eliminating or reducing tax barriers. It provides incentives for businesses to expand their operations abroad and encourages foreign investors to invest in the country by providing favourable tax treatment.
Sample 1

Examples of Avoidance of Double Taxation in a sentence

  • For the Republic of Austria: For the Republic of Macedonia: Xxxxxxx Xxxxx m.p. Xxxxxx Xxxxxxxx m.p. PROTOCOL At the moment of signing the Agreement for the Avoidance of Double Taxation and for the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital, this day concluded between the Republic of Austria and the Republic of Macedonia, the undersigned have agreed that the following provisions shall form an integral part of the Agreement.

Related to Avoidance of Double Taxation

  • Code means the Internal Revenue Code of 1986, as amended.

  • Government means the Government of Kenya;

  • Governmental Authority means the government of the United States or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank).

  • Fraudulent practice means a misrepresentation of facts in order to influence a procurement process or the execution of a contract to the detriment of the Procuring Entity, and includes collusive practices among Bidders (prior to or after bid submission) designed to establish bid prices at artificial, non-competitive levels and to deprive the Procuring Entity of the benefits of free and open competition.

  • Force Majeure Event means an event, or a series of related events, that is outside the reasonable control of the party affected (including failures of the internet or any public telecommunications network, hacker attacks, denial of service attacks, virus or other malicious software attacks or infections, power failures, industrial disputes affecting any third party, changes to the law, disasters, explosions, fires, floods, riots, terrorist attacks and wars);

  • Department means the department of health.

  • Corrupt practice means the offering, giving, receiving, or soliciting of anything of value to influence the action of a public official in the procurement process or in contract execution.

  • Relevant Period means the period from the passing of this resolution until whichever is the earliest of:

  • Confidential Information has the meaning set forth in Section 6.1.

  • Imported content means that portion of the bidding price represented by the cost of components, parts or materials which have been or are still to be imported (whether by the supplier or his subcontractors) and which costs are inclusive of the costs abroad, plus freight and other direct importation costs such as landing costs, dock dues, import duty, sales duty or other similar tax or duty at the South African place of entry as well as transportation and handling charges to the factory in the Republic where the supplies covered by the bid will be manufactured.

  • Employer as defined in Section 3(5) of ERISA.

  • GAAP means generally accepted accounting principles in the United States of America.

  • Member means a member of the Board;

  • GCC means the General Conditions of Contract.

  • Subcontract means any contract entered into by a subcontractor to furnish supplies or services for performance of a prime contract or a subcontract.

  • Local content means that portion of the bidding price which is not included in the imported content provided that local manufacture does take place.

  • Subcontractor means any supplier, distributor, vendor, or firm that furnishes supplies or services to or for a prime contractor or another subcontractor.

  • Personal Data means any information relating to an identified or identifiable natural person; an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.

  • User means a person, department or other administrative unit of the City authorized by the Contract Administrator to order Work under this Contract;

  • tender for income-generating contracts means a written offer in the form determined by an organ of state in response to an invitation for the origination of income-generating contracts through any method envisaged in legislation that will result in a legal agreement between the organ of state and a third party that produces revenue for the organ of state, and includes, but is not limited to, leasing and disposal of assets and concession contracts, excluding direct sales and disposal of assets through public auctions; and

  • Client means the Project lead of technical wing of the Purchaser for whose’ particular project the Goods / Services have been procured or any other person, duly appointed in writing, by the Client, for the time being or from time to time, to act as Client for the purposes of the Contract.

  • Produced in the United States means, for iron and steel products, that all manufacturing processes, from the initial melting stage through the application of coatings, occurred in the United States.

  • Good Reason means:

  • Procuring Entity means the Entity named in the Special Conditions of Contract.

  • Force Majeure means an event beyond the control of the supplier and not involving the supplier’s fault or negligence and not foreseeable. Such events may include, but is not restricted to, acts of the purchaser in its sovereign capacity, wars or revolutions, fires, floods, epidemics, quarantine restrictions and freight embargoes.

  • Software means computer programs, whether in source code or object code form (including any and all software implementation of algorithms, models and methodologies), databases and compilations (including any and all data and collections of data), and all documentation (including user manuals and training materials) related to the foregoing.