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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Article 25 of DTAA: Measures to Prevent Double Taxation on Income and Capital, Recognizes Tax Incentives, Excludes Penalties.</h1> Article 25 of the Double Taxation Avoidance Agreement (DTAA) between two contracting states outlines measures to eliminate double taxation on income and capital. It allows residents of one state to deduct taxes paid in the other state from their domestic tax liabilities, though not exceeding the applicable tax on the income or capital. Even if income or capital is exempt in the resident's state, it may still be considered for tax calculations on remaining income or capital. Tax incentives reducing or waiving taxes in the other state are also recognized. 'Tax paid' excludes penalties related to tax defaults.
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