Double taxation refers to the situation where an individual or company is taxed twice on the same income or asset. This can happen due to conflicting tax laws in different countries, resulting in both the source country and the residence country imposing taxes. Economic double taxation occurs when the same economic activity is taxed twice, while juridical double taxation refers to the taxation of the same legal entity or person by two different countries. It is important to be aware of these concepts when dealing with international business or investments.
