Double Taxation Avoidance Agreement (DTAA) - It is tax treaty between two or more countries to avoid taxing the same income twice is known as DTAA.
- Double taxation is the levy of tax by two or more countries on the same income, asset or financial transaction.
- Under DTAA there are agreed rates of tax and jurisdiction on specified types of income arising in a country.
- When a tax-payer resides in one country and earns income in another country, he is covered under DTAA, if those two countries have DTAA in place. (more related topics)
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