Article 23 - Methods For Elimination Of Double Taxation - Macedonia

ARTICLE 23 METHODS FOR ELIMINATION OF DOUBLE TAXATION 1. In India, the double taxation shall be eliminated as follows: (a) Where a resident of India derives income which, in accordance with the provisions of this Agreement, may be taxed in Macedonia, India shall allow as a deduction from the tax on the income of that resident, an amount equal to the income tax paid in Macedonia. Such deduction shall not, however, exceed that portion of the tax as computed before the deduction is given, which is attributable, as the case may be, to the income which may be taxed in Macedonia. (b) Where in accordance with any provision of the Agreement income derived by a resident of India is exempt from tax in India, India may nevertheless, in calculating the amount of tax on the remaining income of such resident, take into account the exempted income. 2. In Macedonia, the double taxation shall be eliminated as follows: (a) Where a resident of Macedonia derives income which, in accordance with the provisions of this Agreement, may be taxed in India, Macedonia shall allow as a deduction from the tax on the income of that resident, an amount equal to the income tax paid in India. Such deduction shall not, however, exceed that portion of the tax as computed before the deduction is given, which is attributable, as the case may be, to the income which may be taxed in India. (b) Where in accordance with any provision of the Agreement income derived by a resident of a Macedonia is exempt from tax in Macedonia, Macedonia may nevertheless, in calculating the amount of tax on the remaining income of such resident, take into account the exempted income.