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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 ]
Example of double taxation avoidance agreement benefit: Suppose interest on NRI [clarification needed] bank deposits attracts 30 per cent tax deduction at source in India. Since India has signed double taxation avoidance agreements with several countries, tax may be deducted at only 10 to 15 per cent instead of 30%.
In some countries they are also known as double taxation agreements, double tax treaties, or tax information exchange agreements (TIEA). Most developed countries have a large number of tax treaties, while developing countries are less well represented in the worldwide tax treaty network. [209]
Taiwan hopes to reach a long-mooted tax agreement with the United States next year, Finance Minister Chuang Tsui-yun said on Wednesday, which both sides have said will foster more investment and ...
The Taxing and Spending Clause [1] (which contains provisions known as the General Welfare Clause [2] and the Uniformity Clause [3]), Article I, Section 8, Clause 1 of the United States Constitution, grants the federal government of the United States its power of taxation. While authorizing Congress to levy taxes, this clause permits the ...
The detached-worker rule is in all U.S. agreements with other countries except for its agreement with Italy. For example, if a worker from Germany is only temporarily stationed in the United States for a period of five years, that worker would not pay FICA taxes to the U.S. and would instead pay into the German social security system and ...
The first agreement signed under a trade initiative between Taiwan and the United States will come into force on Tuesday, both governments announced, as Taipei hopes a raft of ongoing talks will ...
United States–United Arab Emirates Free Trade Agreement (5th round of talks are yet to be scheduled) (part of US–MEFTA initiative) United States–Southern African Customs Union Free Trade Agreement (on hold since 2006 due to US demands on intellectual property rights, government procurement rights and investment)