Elimination of double taxation: treaty permits limited tax credit and exemption adjustments to prevent dual taxation of residents. Article 23 requires reciprocal relief where each State allows a deduction from a resident's tax equal to tax paid in the other State on income taxable ... Summary
Elimination of double taxation: treaty permits limited tax credit and exemption adjustments to prevent dual taxation of residents.
Article 23 requires reciprocal relief where each State allows a deduction from a resident's tax equal to tax paid in the other State on income taxable there, limited to the portion attributable to that income; additionally, where income is exempt under the Agreement, the exempted income may be taken into account in computing tax on the resident's remaining income.
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