Double taxation

Definition

Refers to the imposition of taxes on the same income, assets or financial transaction at two different points of time. A common example is the taxing of shareholder dividends after taxation as corporate earnings. Another common example is taxes on income imposed by one country, after the same income has already been taxed  by another country. However, many countries have signed treaties to prevent this form of double taxation from occuring to foreign corporations.

See also

  • [[wex:Tax]]
  • [[wex:Income]]