Double taxation refers to a situation where the same taxpayer is taxed twice on the same income in two different countries. This scenario can significantly impact businesses with international operations by decreasing profit margins and hindering growth.
A Double Taxation Avoidance Agreement (DTAA) is a treaty between two countries designed to alleviate the burden of double taxation. It enables international businesses to operate without incurring taxes twice on the same income. DTAAs encourage international trade and facilitate the smooth movement of goods, services, and investments between countries.
DTAAs are highly beneficial for international businesses as they influence revenue and overall profitability. They provide various advantages to businesses and individuals, including:
Eslam Elgendy provides double taxation avoidance advisory services to help you maximize tax benefits and relieve double taxation on your cross-border payments. Our tax experts work with you to leverage DTAAs to their fullest potential, ensuring smooth operations and transactions.
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