Double taxation is a concept that refers to the situation where a person is taxed twice on the same income by more than one state. This can occur both juridically, when the same person is taxed twice, and economically, when more than one person is taxed on the same item. It is important to understand the implications of double taxation in the world of finance, as it can greatly impact individuals and businesses. Let's delve deeper into this concept to gain a better understanding.
