What are international tax agreements?

What are international tax agreements?

International tax agreements are treaties between countries to avoid double taxation and prevent tax evasion.

How do these agreements benefit individuals and businesses?

They help individuals and businesses by ensuring they are not taxed twice on the same income, promoting cross-border trade.

Can you give an example of a specific international tax agreement?

Sure! The OECD Model Tax Convention is a widely used framework for negotiating tax treaties between countries.

What happens if a country doesn't follow these agreements?

If a country doesn't comply, it may face diplomatic disputes, loss of foreign investment, and potential sanctions.

How can I find out if my country has tax agreements with others?

You can check your country's tax authority website or consult with a tax professional for the latest information.