Basic Concepts of International Taxation DOUBLE TAXATION AVOIDANCE AGREEMENT
Basic Concepts of International Taxation Globalization – Trade/ transactions and business has gone beyond borders - Our economy has become robust and business has sprung up where FII investments in India have become ROBUST. Issues like DTAA, Subpart F, WTO, transfer pricing, tAx havens has to be taken care of and they have become an important and integral part of INTERNATIONAL REGIME. WTO – Merging international business, nil or qualitatively less restrictions. DOUBLE TAXATION AVOIDANCE AGREEMENT – an important consideration of international business. Situation of double taxation arrises when an income is taxed twice OECD stand for Organisation for economic co operation and development” Double Taxation means “the imposition of comparable taxes in two or more states on the same tax payer in respect of the same subject matter and for identical periods” Unilateral measures and bilateral measures Sec 90 – Agreement between govt of India and the govt of other countries Sec 91 – Provisions where Indian govt does not have any
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