Double taxation avoidance: treaty applies to residents and extends to territorial seas and adjacent exclusive economic zones. The Convention creates a framework to avoid double taxation and prevent fiscal evasion regarding income and capital gains, applying to persons resident in ... Summary
Double taxation avoidance: treaty applies to residents and extends to territorial seas and adjacent exclusive economic zones.
The Convention creates a framework to avoid double taxation and prevent fiscal evasion regarding income and capital gains, applying to persons resident in one or both Contracting States. It defines territorial scope to include each State's land, territorial sea and adjacent exclusive economic zones or continental shelf areas where sovereign rights for resource exploration and exploitation are exercised, and requires domestic implementation of the Convention's provisions.
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