DTA between Chile and China (People’s Rep.) enters into force
The Income Tax Treaty (2015) between Chile and People's Republic of China has been entered into force on 8th August 2016 and it generally applies from 1st January
See MoreUK: Details of double tax agreement with Colombia
Details are available of the double tax agreement between the UK and Colombia signed on 2 November 2016. The treaty generally conforms to the provisions of the OECD Model Tax Convention but the following should be noted: Permanent establishment A
See MoreUK: Double tax agreement with Lesotho
The UK signed a double tax agreement with Lesotho on 3 November 2016. When it goes into effect it will replace the current agreement signed in 1997. The agreement generally follows the provisions of the OECD Model Tax Convention but the following
See MoreLatvia and Switzerland sign a protocol to amend their existing DTA
Latvia signed a protocol with Switzerland to amend their tax treaty on 2 November 2016. The Protocol updates the 2002 treaty to introduce an administrative assistance clause allowing information to be exchanged between the two countries on request,
See MoreFinland: Government submitted a bill to parliament for ratification of Finland- Turkmenistan DTA (2015)
The Finnish government submitted a bill to parliament on 20 October 2016 for ratification of the Finland - Turkmenistan Income Tax Treaty (2015), signed on 12 December 2015 in Ashgabat. Details of the treaty will be reported
See MoreUK: Double tax agreement with Colombia
On 2 November 2016 the UK and Colombia signed a double taxation agreement, during a state visit to the UK by the President of Colombia. The signing of the agreement is based on a shared commitment to increasing trade and investment between the two
See MoreDTA between Argentina and Chile enters into force
The Income and Capital Tax Treaty (2015) between Argentina and Chile has been entered into force on 11th October 2016 and the treaty generally applies from 1st January 2017 in Argentina for withholding and other taxes and 1st January 2010 in Chile
See MoreItaly: Resolution publishes regarding interest on medium or long-term loans
The Italian Tax Authorities issued Resolution No. 84/E on 29 September 2016, providing clarifications on the tax treatment of qualifying interest on medium or long-term loans, following the amendments introduced by Law Decree No. 91 of 24 June
See MorePakistan: Changes capital gains tax and immovable property
The President of Pakistan has circulated the Income Tax (Amendment) Ordinance, 2016 to further amend the provisions regarding valuation of immovable properties under the Income Tax Ordinance 2001 (the Ordinance). Main features of the Amendment
See MoreDTA between Czech Republic and Iran enters into force
The Income Tax Treaty (2015) between Czech Republic and Iran has been entered into force on 4th August 2016 and it generally applies from 1st January
See MoreUK: Double tax treaty with Senegal effective in UK
The double taxation agreement between the UK and Senegal that was signed on 26 February 2015 entered into force on 30 March 2016. In the UK the agreement is effective from any year of assessment beginning on or after 6 April 2016 for income tax or
See MoreArgentina:Abolition of withholding tax on dividends of companies
In Argentina, Law 27,260, the amendment to the Income Tax Law (LIG) was published in the Official Gazette on 22 July 2016. The Income Tax Law consists of taxation of corporations, individuals and businesses. Law 27,260 abolished the 10% withholding
See MoreOECD: Discussion draft on attribution of profits to permanent establishments
On 4 July 2016 the OECD published a discussion draft on additional guidance on the attribution of profits to permanent establishments, as part of the follow-up to the work on base erosion and profit shifting (BEPS). Comments are invited from
See MoreUK: Double tax agreement with Algeria enters into force
The double taxation agreement between the UK and Algeria entered into force on 26 June 2016. The agreement was signed on 18 February 2015. The agreement will be effective in the UK from 1 January 2017 for withholding tax; from 1 April 2017 for
See MoreIMF report comments on the economic position of Germany
On 24 June 2016 the IMF published a report and selected issues paper following the conclusion of consultations with Germany under Article IV of the IMF’s articles of agreement. Germany’s economy has continued its growth momentum with domestic
See MoreNamibia-increase of withholding tax rate of non-resident directors’ fees
In Namibia, the withholding tax rate applicable to directors’ fees paid to non-residents has become 25% with effect from 21 June 2016. Non-resident directors are no more obliged to include the directors. Fees in their income tax returns since the
See MoreUK publishes text of double tax agreement with the United Arab Emirates
On 28 June 2016 the UK published the text of the double taxation agreement with the United Arab Emirates (UAE) that was signed on 12 April 2016. The agreement generally follows the provisions of the OECD Model Tax Convention but the following points
See MoreUK publishes double taxation agreement with Turkmenistan
On 27 June 2016 the UK published the text of the double tax agreement with Turkmenistan. The agreement was signed on 10 June 2016 and has not yet entered into force. The following aspects of the treaty should be noted: Permanent establishment The
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