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The India–Singapore double taxation avoidance agreement at present provides for residence based taxation of capital gains of shares in a company. The Third Protocol amends the agreement with effect from 1 April 2017 to provide for source based taxation of capital gains arising on transfer of shares in a company.
A tax treaty, also called double tax agreement (DTA) or double tax avoidance agreement (DTAA), is an agreement between two countries to avoid or mitigate double taxation. [1] Such treaties may cover a range of taxes including income taxes , inheritance taxes , value added taxes , or other taxes. [ 2 ]
Many governments tax individuals and/or enterprises on income. Such systems of taxation vary widely, and there are no broad general rules. These variations create the potential for double taxation (where the same income is taxed by different countries) and no taxation (where income is not taxed by any country). Income tax systems may impose tax ...
Note: Under US tax code and the double taxation agreement, a transfer from a UK-registered pension to another UK-registered pension is deemed to be qualifying. IRS Memorandum AM 2008-009 ( 21 August 2008 ) under Section 402(c)(4) means that with relation to tax, a transfer from a UK-registered pension outside of the original state (the UK) is ...
Some states have reciprocity agreements with neighboring states that allow residents to avoid double taxation. Reciprocity agreements mean workers are taxed once in the state they live. "For ...
The GAAR implies a set of generic anti-avoidance rules, while SAAR targets a specific avoidance practice or technique. Also, there is a set of bilateral measures pursued thorough treaties or double taxation agreements (DTAAs), this can be done via various clauses. [13]
Some African countries criticized the OECD-led minimum tax for being led by the OECD, a club of mostly rich countries. Instead, they argued, global taxation rules should be agreed at the United Nations level, just as climate and development goals are. The G77 bloc of over 130 developing countries agreed. [1]
1986 – Agreement between Australia and Finland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income, and Protocol [418] 1986 – Agreement on Health Services between the Government of Australia and the Government of the United Kingdom of Great Britain and Northern Ireland [419]