Explain double taxation avoidance agreement in detail
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To avoid this double taxation of same income, countries are entering into Double tax avoidance agreement (DTAA) with each other. There is generally bi-lateral agreement which is entered between two countries. However, there are also Multi –lateral agreements which are entered between more than two countries.
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Karvy A tax treaty between two or more countries to avoid taxing the same income twice is known as Double Taxation Avoidance Agreement (DTAA). This means that there are agreed rates of tax and jurisdiction on specified types of income arising in a country.
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