China: Shanghai and Hong Kong Agree Financial Services Co-operation
The fourth Hong Kong-Shanghai Financial Co-operation Working Meeting brought together representatives of governments, stock exchanges and financial regulators to discuss issues surrounding financial services and products. Representatives from
See MoreSpanish Supreme Court confirms the minimum participation withholding rate for application of Spain-Netherlands tax treaty
The Spanish Supreme Court issued a decision on 6 March in relation to application of the double tax agreement between Spain and the Netherlands signed on 16 June 1971. The Court confirmed that the 5% reduced rate for withholding tax under the DTA
See MoreRussia-Malta DTA ratified
On 2 April 2014 Russia ratified the double taxation agreement (DTA) signed with Malta. The tax treaty between Malta and Russia was signed on 24 April 2013 and ratified by Malta on 18 June 2013. This DTA provides for lower withholding tax rates on
See MoreNew treaty between Hungary and US submitted to US Senate for ratification
The US Senate Foreign Relations Committee gave its approval to the new Hungary-United States double tax agreement (DTA) on 1 April 2014. This revised agreement is replace the existing Hungary-United States treaty when it enters into force. The
See MoreMexico and Panama Sign Free Trade Agreement
Mexico and Panama signed a free trade agreement (FTA) on April 3 2014. The conclusion of this agreement is an important step for Panama on the way to becoming a full member of the Pacific Alliance (PA) regional trade bloc. The FTA is also likely to
See MoreHong Kong signs tax information exchange agreement with the US
Hong Kong signed a tax information exchange agreement (TIEA) with the US on 25 March 2014. This agreement will strengthen the ability of the two jurisdictions to take action in respect of the enforcement of their taxes. Tax information exchange
See MoreGermany and China sign a DTA and Protocol
Germany and China signed a new double tax agreement (DTA) and Protocol on March 28 2014. The agreement generally follows the provisions of the OECD Model but the definition of a permanent establishment includes the provision of services in the other
See MoreChina and EU Agree To Work towards FTA
In a meeting between EU leaders and China’s President both sides agreed that they are committed to transparent trade and investment rules. They investigated ways to enhance trade and investment to benefit their economies. When the appropriate
See MoreCanada: TIEA with Bahrain enters into force
On April 3, 2014, the tax information exchange agreement (TIEA) between Canada and Bahrain entered into force. The exchange of tax information is seen as an important element in the fight against tax evasion and enables countries more easily to
See MoreBelgium: Protocol to tax treaty with Canada
A Protocol amending the double taxation agreement (DTA) between Belgium and Canada has been signed. The Protocol incorporates into the DTA updated provisions in respect of the exchange of tax information. The exchange of information between tax
See MoreUS – Luxembourg and US Sign FATCA Deal
An agreement has been concluded between Luxembourg and the US to ensure that institutions may carry out the provisions of the Foreign Account Tax Compliance Act (FATCA). The two countries reached the agreement on the basis of one of the model
See MoreTreaty between Saudi Arabia and Luxembourg approved by Saudi Arabia
Saudi Arabia approved the double taxation agreement with Luxembourg on 31 March
See MoreTreaty between Ethiopia and Saudi Arabia approved by Saudi Arabia
Saudi Arabia approved the double tax with Ethiopia on 31 March 2014. The treaty will enter into force when the appropriate ratification procedures have been completed in both
See MoreNew Zealand and EU consider Free Trade Agreement
New Zealand and the European Union are considering possibilities for updating their trade and economic relations. As part of this process they are looking at the possibility of concluding a free trade agreement. The leaders of the EU met with New
See MoreHong Kong DTAs with Qatar, Canada, Kuwait, Jersey, and Mexico
The double taxation agreements (DTAs) that Hong Kong has signed with Qatar, Canada, Kuwait, Jersey, and Mexico are to take effect in Hong Kong from April 1,
See MoreHong Kong and USA working for FATCA IGA
Hong Kong and the United States signed a tax information exchange agreement (TIEA) on March 25 2014. This will provide the legal framework within which an intergovernmental agreement (IGA) can be signed to enable the transfer of information in
See MoreFTA between Canada and South Korea
Canada and South Korea concluded a free trade agreement (FTA) in March 2014. This agreement will reduce or eliminate duties and tariffs on a number of imports and exports between the two countries. Within a three to five year time span Canada is to
See MoreUnited Kingdom and Germany sign DTA Protocol
A protocol has been signed to the double tax agreement between the UK and Germany. This protocol which was signed on 17 March 2014 includes in the agreement the latest version of Article 7 (business profits) of the OECD Model. The taxation rights in
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