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Note: This Treaty may be impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). MLI impact on Tax Treaties is available with the Orbitax International Tax Research & Compliance Expert.

ARTICLE 23

Elimination of Double Taxation

(1) The laws in force in either of the Contracting State will continue to govern the taxation of income in the respective Contracting States except where provisions to the contrary are made in this Convention.

(2) In the case of Trinidad and Tobago, double taxation shall be eliminated as follows:

  • Where a resident of Trinidad and Tobago derives income which, in accordance with the provisions of this Convention, may be taxed in India, Trinidad and Tobago shall allow as a deduction from the tax on the income of that resident an amount equal to the income-tax paid in India, whether directly or by deduction at source. Such deduction shall not, however, exceed that part of the income-tax as computed before the deduction is given, which is attributable to the income which may be taxed in India.

(3) In the case of India, double taxation shall be eliminated as follows: Where a resident of India derives income which, in accordance with the provisions of this Convention, may be taxed in Trinidad and Tobago, India shall allow as a deduction from the tax on the income of that resident an amount equal to the income-tax paid in Trinidad and Tobago, whether directly or by deduction at source. Such deduction shall not, however, exceed that part of the income-tax, as computed before the deduction is given, which is attributable to the income which may be taxed in Trinidad and Tobago.

(4) The tax payable in the Contracting State mentioned in paragraphs 2 and 3 of this Article shall be deemed to include the tax which would have been payable but for the tax incentives granted under the laws of the Contracting State and which are designed to promote economic development.

(5) Income which in accordance with the provisions of this Convention, is not to be subjected to tax in a Contracting State, may be taken into account for calculating the rate of tax to be imposed in that Contracting State.