US and Hong Kong Sign Model 2 Intergovernmental agreement (IGA)
The United States and Hong Kong signed a Model 2 IGA, on 13 November 2014, to implement the US Foreign Account Tax Compliance Act (FATCA). Under the agreement, Foreign Financial Institutions (FFIs) in Hong Kong will report the information required
See MoreCyprus and Iceland sign Double Taxation Agreement
The Republic of Cyprus and the Government of Iceland signed a Double Taxation Avoidance Agreement, on 13 November 2014, concerning income and capital. The agreement is based on the OECD Model Convention. By signing this agreement both countries aim
See MoreUK-Japan: Protocol to existing treaty enters into force very soon
The existing Income Tax Treaty between Japan and the UK will enter into force on December 12, 2014 followed by an exchange of diplomatic note on November 12, 2014. The protocol was previously signed on December 17, 2013. It includes provisions
See MoreColombia: Foreign Ministry announces implementation of Free Trade Agreement (FTA) with the European Union (EU) and Peru
The Foreign Ministry of Colombia announced on November 6, 2014 a full implementation of free trade agreement (FTA) with the European Union (EU) and Peru. The FTA between the EU and Colombia has provisionally been applied since 1st August 2013. The
See MoreIreland signs new Double Taxation Agreement (DTA) with Ethiopia
Ireland and Ethiopia has signed a new Double Taxation Agreement (DTA) on November 3, 2014. The legal procedures to bring these agreements into force will need to be
See MoreFrance and Serbia Sign Social Security Agreement
France and Serbia signed a social security agreement on 6 November 2014. After in force and effective the agreement will be replaced by the France and former Serbia-Montenegro Social Security Agreement (1950) which was amended in 1967, 1974 and
See MoreEFTA and Bosnia-Herzegovina: FTA enters into force
The multilateral free trade agreement (FTA) between Bosnia and Herzegovina and EFTA (the European Free Trade Association) states- Iceland, Liechtenstein, Norway and Switzerland signed on 24 June 2013 and the agreement will enter into force for
See MoreUS and Bahamas Sign Agreement To Implement Foreign Account Tax Compliance Act (FATCA)
The United States and The Government of Bahamas signed FATCA Model 1B agreement on 3 November 2014. The US-Bahamas IGA is based on the non-reciprocal Model 1B agreement. Under the agreement, Foreign Financial Institutions (FFIs) in Bahamas will
See MoreProtocol to treaty between- Singapore and UAE
Singapore and the United Arab Emirates signed an amending protocol to the Singapore - United Arab Emirates Income Tax Treaty (1995) on 31 October 2014, in Singapore. Additional information will be informed
See MoreChina signs new tax treaty and protocol with Russia
China signed a new income tax treaty and protocol with Russia on 13 October 2014. The key changes made in the new treaty are: In Article 4, “place of effective management” has been included as a one of the criteria for determining
See MoreItaly: ratification of Tax Information Exchange Agreements (TIEAs) with the Cook Islands and Jersey on October 30, 2014
Italy has ratified its Tax Information Exchange Agreements (TIEAs) with the Cook Islands and Jersey and it was published in the official gazette on October 30,
See MoreItaly: Ratifies its protocol with the Republic of Korea on October 29, 2014
Italy has ratified its tax treaty protocol with the Republic of Korea and it was published in the official gazette on October 29,
See MoreMalta- Mauritius Signs Double Taxation Agreement (DTA) on October 15, 2014
Malta has signed Double Taxation Agreement (DTA) with Mauritius on October 15, 2014 with a view to avoid double taxation and prevention of fiscal evasion. This treaty awaits
See MoreLuxembourg-UAE signs a protocol to amend the Double Tax Agreement
The Luxembourg and the UAE have signed a protocol to amend the existing double tax agreement among them. The withholding tax rate on dividends, interest, and royalties has not been changed in the amendment. The protocol revises provisions in the
See MoreDTA between Argentina and Switzerland approved by Argentina
The Argentine Senate approved the Income and Capital Tax Treaty between Argentina and Switzerland, on October 22, 2014 and it was signed in March 20, 2014. The treaty has now been submitted to the Chamber of Deputies for further
See MoreNetherlands: signs agreement on exchange of tax information with 50 countries
Finance minister of Netherlands Jeroen Dijsselbloem signed a declaration today with 50 other countries, committing the signatories to exchange tax-information automatically. The Netherlands will receive information from these countries on possible
See MoreSouth Africa: SARS Issues Tax Dispute Resolution Guide
The South African Revenue Service has released a ‘Dispute Resolution Guide’ promulgated in terms of section 103 of the Tax Administration Act that was enacted on October 1, 2012. The guide confirms that when taxpayers are discontented by an
See MoreAustralia: new tax treaty with Switzerland enters into force on 14 October 2014
Australia-Switzerland new tax treaty has entered into force on 14 October 2014. The treaty, which was signed on 30 July 2013, replaces the existing Australia-Switzerland tax treaty which was signed in 1980. The new treaty will encourage further
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