Taiwan-Austria double taxation avoidance pact to take effect
A double taxation avoidance agreement between Taiwan and Austria, which is expected to boost bilateral trade an investment, will take effect on Jan. 1, 2015, Taiwan’s Ministry of Foreign Affairs said Wednesday.
The agreement was signed in July, and with the two countries now having completed the necessary domestic legal procedures, the agreement will be implemented starting next year, the ministry said in a statement.
This is Taiwan’s 13th tax agreement with a European country and 28th overall, the ministry said.
Bilateral trade between Taiwan and Austria totaled US$780 million in 2013 and more than US$630 million during the first three quarters of 2014, according to the ministry.
The ministry said the agreement is expected to advance trade and investment relations and promote technical exchanges and business opportunities and will help strengthen Taiwan’s ties with the European Union.
