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Meaning of “double taxation treaty” in the English Dictionary

"double taxation treaty" in Business English

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double taxation treatynoun [C]

uk   us   also double taxation agreement TAX, GOVERNMENT
an agreement between two or more countries that reduces the amount of tax that a international worker or company must pay, so they do not have to pay tax twice on the same income: Under the double taxation treaty, any tax paid in the country of residence will be exempt in the country in which it arises. Tax deducted at source will be offsettable against your UK liability as the UK has a double taxation agreement with South Africa.
(Definition of double taxation treaty from the Cambridge Business English Dictionary © Cambridge University Press)
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