double taxation Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “double taxation” in the English Dictionary

"double taxation" in Business English

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double taxationnoun [U]

uk   us   TAX
a ​situation in which two or more ​governmentschargetax on the same ​income or ​property: Developers ​complained that the ​factory faces ​doubletaxation, by the ​state and ​federalgovernments.
a ​situation in which a ​governmentchargestax on a company's ​profits, which it ​pays to its ​shareholders as dividends, and then ​charges the ​shareholderstax on the ​dividends: Double ​taxation occurs because ​corporations are considered ​separatelegalentities from their ​shareholders.
(Definition of double taxation from the Cambridge Business English Dictionary © Cambridge University Press)
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“double taxation” in Business English

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