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Prevention of double taxation

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Prevention of double taxation Empty Prevention of double taxation

Post by claud39 on Tue Mar 05, 2019 9:22 am


[size=36][rtl]Prevention of double taxation[/rtl][/size]

Monday, March 04,

Prevention of double taxation 980-Alsabbaq

Mohamed Sherif Abu Maysam

Double taxation refers to the multiplicity of tax levies on the same capital or income at the local or international levels. This term is usually used to express international double taxation, which is a phenomenon that countries seek to limit in the context of economic globalization and the desire to attract foreign investment and strengthen economic relations.
Double taxation arises as a result of States applying their tax legislation that may extend beyond their territory in accordance with their national interests when two or more States impose the same tax on the same vessel as a result of different taxation bases.
With a view to phasing out the incentives that might hinder the movement of capital and commodities and create an encouraging environment for foreign companies seeking suitable tax environments for profit-taking in one or another country, many countries have signed bilateral or multilateral economic agreements, thus protecting their financial sovereignty and benefiting them. Creating investment-friendly climates, while countries and global economic blocs have imposed a series of constraints surrounding emerging and even emerging economies, notably tax agreements on tax exemption or double taxation as a condition for capital inflows.
The G-20 has developed a list of countries it accuses of tax havens and has committed to signing agreements to prevent double taxation to be removed from the "gray" list.
The United States has forced its allies to sign the FTAA, which places the financial sector in those countries the subject of a policeman who is chasing American companies and funds to return the taxes to the US Treasury, thus depriving the tax authorities of these countries of tax collection free of charge Adherence to the international non-double taxation agreement.
The standard of signing agreements to prevent double taxation puts tax sovereignty and encourage attracting foreign investment on both sides of the equation, which requires many calculations and economic know-how, to ensure the adequacy of legislation and laws for global economic developments to the national interest, and ensure the reduction of the use of national capital abroad by imposing a tax on The income of capital invested abroad to prevent its exit and encourage its investment within the State, as well as the reduction of the importation of foreign capital that can be invested in projects to be financed by national capital, as well as the application The principle of reciprocity in the imposition of taxes on foreign nationals of the state.
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