Ivory Coast approves tax treaty with Qatar
The Ivory Coast Council of Ministers ratified the pending income tax treaty with Qatar on Wednesday, 22 May, 2024. Signed initially on 7 December, 2022; this agreement is a first between the two nations. The treaty will come into effect after
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G7 finance ministers pledge for a fairer global tax system
The G7 Finance Ministers and central bank governors held a meeting from 23–25 May, 2024, at Stresa, Italy, during which they issued a Communiqué reaffirming their commitment to creating a more stable and equitable international tax system. The
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Kenya and US to strengthen business and trade ties
Kenyan President William Ruto announced that Kenya will engage in a new round of trade negotiations with the US on Friday, 24 May 2024, during a visit to the US. These talks aim to promote new business agreements and to strengthen economic ties
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Tax treaty negotiations underway between Turkey and Zimbabwe
The first round of negotiations for an income tax treaty between Turkey and Zimbabwe took place from 14 – 17 May, 2024. The negotiations were chaired by Ahmet Yildirim, Head of Revenue Administration, on behalf of Turkey, and Misheck Govha,
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Belarus and Equatorial Guinea ratifies tax treaty
Belarusian President Alexander Lukashenko signed a law on Tuesday, 21 May, 2024, ratifying the pending income and capital tax treaty with Equatorial Guinea. Signed on 9 December, 2023, this tax treaty is the first of its kind between the two
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Croatia and Egypt tax treaty goes into effect
According to an update from Croatia's Ministry of Foreign and European Affairs, the income and capital tax treaty with Egypt came into force on 16 April, 2024, and will from 1 January, 2025. The treaty covers individual income tax, corporate
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Argentina and South Korea to advance tax treaty talks
Argentina and South Korea officials met to discuss bilateral cooperation, focusing on advancing negotiations for an income tax treaty between the two countries, on 13 May, 2024. Any tax treaty resulting from the negotiations must undergo
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Argentina set to initiate automatic financial data exchange under FATCA with the US
Argentina set to initiate the inaugural automatic exchange of financial information under the Intergovernmental Agreement (IGA) between Argentina and the US for FATCA implementation. The Argentine tax authority (AFIP) in a release announced that
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Germany and South Africa sign updated income and capital tax treaty protocol
Germany and South Africa signed a new protocol to amend their 2008 income and capital tax treaty on 6 March, 2024. This protocol, which has yet to come into force, marks the first amendment to the original treaty and introduces several changes to
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Lithuania and San Marino sign tax treaty agreement
Officials from Lithuania and San Marino have finalised an income tax treaty on 17 May, 2024. This agreement, a first between the two nations, will come into force after the exchange of ratification instruments. This agreement will apply to
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Austria releases synthesised text of tax agreement with Mexico
The Austrian Ministry of Finance has released a synthesised text of its tax treaty with Mexico, incorporating provisions from the Multilateral Convention (MLI) to tackle Base Erosion and Profit Shifting (BEPS) practices. This revised agreement
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Bulgaria and Malta approve revised income tax treaty
The caretaker government of Bulgaria approved an amendment to the draft income tax treaty with Malta, authorising the Minister of Finance to sign the agreement, on Wednesday, 15 May, 2024. The initial draft, approved on 8 July, 2020, and
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Albania and Croatia’s social security agreement comes into effect
In a step towards enhancing bilateral relations, Albania and Croatia have officially enacted their first social security agreement Notice No. 7233. Published in the Albanian Official Gazette on 14 May, 2024, the agreement was signed on 2 October,
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Malaysia and Russia sign new income tax treaty
Malaysia and Russia signed a new income tax treaty on Friday, 17 May, 2024. This agreement will take effect once the ratification instruments are exchanged, effectively replacing the 1987 tax treaty between Malaysia and the former Soviet
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Tax treaty negotiations successfully conclude between Croatia and Saudi Arabia
Representatives from Croatia and Saudi Arabia successfully concluded negotiations regarding an income tax treaty between the two nations on 15 May 2024. This agreement, a first of its kind, aims to prevent double taxation of income and
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Finland amends FATCA and CRS annual information returns for 2023
The Finnish Tax Administration issued a newsletter on 15 May, 2024, announcing that financial institutions can submit corrected FATCA and Common Reporting Standard (CRS) annual information returns for 2023. These amendments can be made by
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UK and Peru successfully conclude tax treaty negotiations
The UK’s His Majesty’s Revenue and Customs (HMRC) issued a joint declaration on 17 May, 2024, announcing the successful conclusion of negotiations for an income tax treaty with Peru. Discussions were held over the course of several years
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Montenegro-Romania social security agreement to be enforced from 1 June 2024
The bilateral social security agreement between Montenegro and Romania is slated to come into force on 1 June, 2024. Signed on 22 July, 2022, the agreement indicates a positive step towards enhancing social security cooperation between
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