double-taxation agreement

double-taxation agreement definition - finance
An agreement between two countries that reduces the tax bill for an individual who is a resident of one country but has citizenship in another country. The agreement strives to prevent the taxpayer from paying tax to both countries. Often the tax owed is based upon the number of days that the taxpayer actually worked in both countries.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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