DTA between Pakistan – Czech Republic
Pakistan’s Cabinet on August 29, 2013, approved the signing of a draft double tax agreement (DTA) with the Czech Republic. A draft agreement was originally initialled on 19 October 2012. No further details of the treaty are currently
See MoreNetherlands: Plans to update tax treaties with developing countries
The Netherlands has a plan to significantly improve tax transparency and to combat international tax avoidance by updating double tax treaties with low- and middle-income countries. The Netherlands has signed with more than 90 nations. The
See MoreLuxembourg and Uruguay initial a tax treaty
Luxembourg and Uruguay initiated a double tax agreement (DTA) on August 27, 2013. As Uruguay is considered to be one of the leading financial centers in South America a treaty with Luxembourg would open up possibilities for investors and funds from
See MoreFTA Between Indonesia-Pakistan Enters Into Effect
Indonesia and Pakistan signed a Preferential Trade Agreement (PTA) in February 2012. This agreement came into effect from September 1 following the signing of an additional Mutual Recognition Agreement (MRA). The agreement had previously been held
See MoreCroatia – Portugal signed Double Tax Treaty
The Government of Croatia approved the signing of a double tax treaty (DTA) with Portugal for avoidance of double taxation and preventing tax evasion on August 29, 2013. This will determines the manner of data exchange between the two countries’
See MoreAfghanistan – Pakistan DTA
Afghanistan and Pakistan agreed to launch negotiations towards a double taxation agreement (DTA) at meetings on August 25, 2013. No further details of the negotiations or likely provisions of any future agreement are currently
See MoreCanada – New withholding rules and information collecting rules under the FATCA
Under the U.S. Foreign Account Tax Compliance Act (FATCA), Canadian banks and certain other non-U.S. entities must allow with new rules of withholding and information collecting requirements that take effect on June 30, 2014. In respect of FATCA
See MoreIncome and capital tax treaty between Saudi Arabia and Luxembourg
The income and capital tax treaty between Saudi Arabia and Luxembourg was signed on 7 May 2013. The text of the treaty has become available now. The treaty will now undergo with some ratification procedures. The new treaty is expecting to become
See MoreChina signs agreement for mutual assistance in tax matters
China signed the Multilateral Convention on Mutual Administrative Assistance on 27 August 2013 in Tax Matters. The Convention provides a framework for cooperation between tax authorities to exchange tax information. The OECD and the G20 are
See MoreCzech Republic – Postponement of provision to implement FATCA
A package of proposals has been submitted by the Finance Ministry for making consideration by the Parliament but legislative consideration of several of the provisions has been postponed. One of the items included in the proposals, which would put
See MoreVietnam and New Zealand sign double tax agreement
New Zealand signed a new double tax agreement (DTA) with Vietnam on August 5, 2013. When will become effective, dividends will be subject to a maximum withholding tax of 5% where the beneficial owner is a company directly holding at least 50% of the
See MoreUkraine and Malta to sign double tax convention
The governments of Ukraine and Malta are intending sign a convention on the avoidance of double taxation and the prevention of tax evasion. It approved by Ukraine’s Cabinet of Ministers on July 24, 2013. Under the draft convention, the withholding
See MoreMalta and Turkey DTA entered into force
The Income Tax Treaty (2011) between Malta and Turkey for the avoidance of double taxation entered into force on 13 June 2013. The treaty generally applies from 1 January 2014. OECD Model Tax Treaty is broadly followed in this
See MoreProtocol to DTA between India and Morocco signed
India and Morocco have signed a protocol to their Double Taxation Avoidance Convention. This protocol will bring the information exchange provisions under the treaty into line with international standards. There is an increasing international
See MoreSingapore and Barbados sign a new DTA
Singapore and Barbados signed their first income tax treaty On 15 July 2013.The provisions of the treaty generally follow the provisions of the OECD Model Tax Convention but a permanent establishment is created if services are provided in the other
See MoreRussia planning to implement rules to follow FATCA
One of the main issues facing Russian financial institutions is the fact that recent legal obstacles do not allow them to follow the US Foreign Account Tax Compliance Act (FATCA) in Russia by entering into direct contracts with the Internal Revenue
See MoreProtocol to DTA between Austria and Canada signed
A second protocol to the Austria –Canada Income Tax Treaty which was signed on 1 March 2012 will enter into force on 1 October 2013. The protocol contains provisions for the exchange of tax information and will have effect in accordance with the
See MoreUnited States and Swiss agree on FATCA signification
The United States and Swiss governments have signed a memorandum of understanding on interpretations of their agreement on implementing the Foreign Account Tax Compliance Act, or FATCA on 7 June 2013 in Washington. The memorandum summarizes the
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