Category: Double Taxation Agreement

Panama: Panama Tax Treaties

The Panamanian Government with the aim of improving the competitiveness of the international services industry in Panama and, at the same time, comply with international standards for the effective exchange of information, initiated in 2009 a decisive agenda for the selection of countries with whom tax agreements were going to… – Continue reading

New Zealand Moving Forward With Tax Treaty Amendments

The New Zealand Government has announced the signature of two Orders of Council that will implement amendments to its tax treaty arrangements with India and San Marino. The third protocol to the double tax agreement (DTA) with India updates the information exchange provisions and inserts an article on assistance in… – Continue reading

PH to sign tax pact with Brunei

The Philippines is set to sign a double taxation agreement (DTA) with Brunei while eyeing to start negotiations with three other Asean countries as part of its commitments under the regional integration framework. Internal Revenue Assistant Commissioner Marissa O. Cabreros told the Inquirer yesterday that the Philippines’ DTA with Brunei… – Continue reading

Nigeria, Singapore sign agreement to curb double taxation

Nigeria’s federal government on Wednesday signed an agreement with Singapore that would help companies operating in the two countries avoid double taxation in their different bases. The agreement clearly spells out taxing rights of the two countries in respect of different incomes derived from each country. It will specifically assist… – Continue reading

Irish FinMin Considers Impact Of Brexit On Taxes

As part of the Irish Budgetary process, officials from the Finance Department have published a paper on the implications of Brexit for Ireland’s tax system. The paper was prepared for consideration by the Tax Strategy Group (TSG), an interdepartmental committee chaired by the Finance Department. The papers produced by the… – Continue reading

Kingdom, Brunei pen agreement over taxes

Cambodia signed a double taxation agreement (DTA) with Brunei aimed at preventing dual taxation and fiscal evasion, the Ministry of Economy and Finance said yesterday in a press release. This is the third DTA agreement that Cambodia has signed after Singapore and China, while the government is currently developing framework… – Continue reading

Push to draw up Cambodia-Thai tax treaty

Representatives from the tax authorities of Cambodia and Thailand have agreed in principle to speed up a proposed double taxation agreement that would protect their nationals from dual taxation and encourage bilateral investment. The agreement was made last week during a two-day consultation workshop in Bangkok for tax officials from… – Continue reading

UAE signs avoidance of double taxation deal with Cameroon

The UAE Ministry of Finance (MoF) signed a final agreement for the avoidance of double taxation with the Republic of Cameroon at the Ministry’s premises in Dubai today. The agreement comes in line with the ministry’s strategy to strengthen bilateral trade and economic relations between the two countries, in order… – Continue reading

Ecuador endorses double taxation agreement with Belarus

The National Assembly of Ecuador endorsed the agreement on cooperation in taxation with Belarus by a majority vote. The document is meant to avoid double taxation and prevent property and real estate tax evasion. The agreement was endorsed by the Belarusian and Ecuadorian governments in 2016. The Special Permanent Commission… – Continue reading

Hong Kong Government Considers Expanding Its List of “Reportable Jurisdictions” for Automatic Exchange of Information

Under increasing international pressure, the Hong Kong government is considering expanding its Automatic Exchange of Information (AEOI) implementation by imposing broader information collection obligations, entering into more bilateral AEOI agreements at a faster pace, and possibly joining the multilateral AEOI agreement. Background Hong Kong legislated to adopt the OECD Common… – Continue reading

Vietnam-US double taxation avoidance agreement approved

The Government recently issued a resolution to ratify an agreement and a protocol on avoiding double taxation and preventing income tax evasion between Vietnam and the United States of America. The Ministry of Foreign Affairs was asked to complete necessary procedures in accordance with law. Meanwhile, the Ministry of Finance… – Continue reading

Netherlands: Trends I Netherlands Moves Away From Fiscal Offshore Industry

The Netherlands is slowly but surely steering away from facilitating the use of its corporate income tax system by companies that are set up merely to obtain tax benefits. These companies, which often do not actually carry out activities in the Netherlands, have contributed to the perception among policy makers… – Continue reading

Taxing issues: multinationals still routing profits through Ireland

New Oxfam report indicates Government measures to tackle tax avoidance are failing Multinationals are continuing to route billions of euro in profit to and through Ireland to avoid tax, according to a new report by Oxfam Ireland. The study, which suggests that Government measures aimed at tackling tax avoidance are… – Continue reading

MoF signs two agreements on avoidance of double taxation, protection and promotion of investment with Burundi

ABU DHABI, 16th February, 2017 (WAM)–The Ministry of Finance, MoF, has signed two final agreements on the avoidance of double taxation and the protection and promotion of investment with Burundi. The agreements came as part of the Ministry’s strategy to expand its international relations and to protect and promote Emirati… – Continue reading

Pakistan, Hong Kong ink pact to avoid double taxation

ISLAMABAD-Pakistan and Hong Kong on Friday signed the pact on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income. Pakistan’s Ambassador to China Masood Khalid signed the agreement while the Secretary for Financial Services and the Treasury, Professor KC Chan signed on behalf of… – Continue reading

Azerbaijan, Denmark ink convention on avoidance of double taxation

Azerbaijan and Denmark have signed the convention on avoidance of double taxation and prevention of tax evasion on income taxes. The document was signed by Azerbaijani Minister of Taxes Fazil Mammadov and his Danish counterpart Karsten Lauritzen. Mr. Mammadov said that the document will contribute to the development of trade… – Continue reading

Amended tax treaty with the Isle of Man comes into force

The amended double taxation agreement between the UK and the Isle of Man has entered into force, effective from 5 January 2017, following the latest arrangements signed on 8 March 2016. The bilateral agreements between the UK and the Isle of Man concern cooperation in tax matters through the exchange… – Continue reading

PBC urges Dar to ask FBR to go easy on super tax

Pakistan Business Council (PBC) has approached Finance Minister Ishaq Dar to stop the Federal Board of Revenue (FBR) from recovery proceedings of Super Tax against non-resident companies on dividend income from their investments in Pakistan. Sources told Business Recorder here on Tuesday that the PBC has urged the Finance Minister… – Continue reading


MUSCAT -The Double Taxation Agreement (DTA) between Switzerland and Oman aiming to increase economic ties officially came into force last month, according to the Swiss government. Its provisions will be applicable from January 1, 2017, according to the government. The agreement was originally signed on May 22, 2015 before going… – Continue reading

Pak-China avoidance of double taxation treaty inked

ISLAMABAD – Pakistan and China signed third protocol to the avoidance of double taxation agreement that would allow a Chinese bank and a state-owned investment fund to avail income tax exemption on interest income from loans for energy projects under China-Pakistan Economic Corridor (CPEC). Federal Board of Revenue (FBR) Chairman… – Continue reading

India, US strike 1st bilateral advance pricing agreement: Government

NEW DELHI: India and the US have reached a deal for the first bilateral advance pricing agreement, a move that will enable American firms to ascertain tax liabilities beforehand, Finance Minister Arun Jaitley said today. The two nations have resolved over 100 cases of tax disputes involving a tax of… – Continue reading

DTA with Liechtenstein

The double taxation agreement (DTA) between Switzerland and Liechtenstein will enter into force on 22 December 2016. The DTA contains a provision on the exchange of information upon request according to the internationally applicable standards. The DTA will contribute to the development of good economic relations between Switzerland and Liechtenstein…. – Continue reading

India, Cyprus ink new Double Tax Avoidance Agreement

New Delhi– India on Friday signed a revised double taxation avoidance agreement (DTAA) with Cyprus, an official statement said here. “A revised agreement between India and Cyprus for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion (DTAA) with respect to taxes on income, along with its protocol,… – Continue reading

Hong Kong Pushes For DTA, Info Exchange With Australia

In Canberra, Hong Kong’s Secretary for Financial Services and the Treasury, K C Chan, expressed his wish to quickly start negotiations on a comprehensive double taxation agreement (CDTA) with Australia. During his meetings with Australia’s Treasurer, Scott Morrison, and the Minister for Revenue and Financial Services, Kelly O’Dwyer, Chan pointed… – Continue reading

With 42% increase in trade, India-NZ agree to amend Double Taxation Agreement

India and New Zealand also vowed to press for successful negotiations of the Regional Comprehensive Economic Partnership (RCEP). India and New Zealand decided to amend the bilateral tax treaty and expressed commitment to work towards a comprehensive free trade agreement with a view to boost economic ties on Wednesday. The… – Continue reading

Hong Kong to commence automatic exchange of financial account information in tax matters with Japan and UK in 2018

Hong Kong has signed agreements with Japan and the United Kingdom with a view to commencing automatic exchange of financial account information in tax matters (AEOI) with these two tax jurisdictions in 2018, a Government spokesman said today (October 26). In September 2014, Hong Kong indicated its support for the… – Continue reading

Pakistan to seek offshore companies information from nine tax havens

Pakistan’s authorities are making efforts to seek information about tax details of 270 offshore companies from nine known tax havens around the globe where 444 individuals have invested billions of dollars, and, finally, their names appeared through PanamaLeaks, The News has learnt. The cases of 444 individuals involving nine jurisdictions… – Continue reading

Chinese dual tax burden relieved

An extensive tax treaty that would shield Chinese businesses operating in the Kingdom from double taxation, and vice versa, has been drafted and is expected to be approved imminently, according to a senior Cambodian tax official. Experts said yesterday the double taxation agreement (DTA) would create a clear legal framework… – Continue reading

US, Argentina Negotiating Comprehensive Double Tax Pact

During his remarks at a September 26 meeting with Argentine Finance Minister Alfonso Prat-Gay in Buenos Aires, US Treasury Secretary Jack Lew disclosed that the two countries are to negotiate a comprehensive double taxation agreement, to include provisions for the exchange of tax information. “To accelerate the process of sharing… – Continue reading


CANADA, ISRAEL SIGN AGREEMENT ON DOUBLE TAXATION As Prime Minister Justin Trudeau joined other world leaders in addressing the United Nations General Assembly, behind the glare of the camera lights, Foreign Affairs Minister Stéphane Dion met with Israel’s Finance Minster Moshe Kahlon on the sidelines to sign an agreement to… – Continue reading

Tax evasion challenge Pakistan, Switzerland moving towards greater cooperation

Pakistan and Switzerland would exchange information on tax evasion once the contracting state exhausts all regular sources of information available under the internal taxation procedure. On August 31, 2016, the Federal Cabinet approved initialed draft for revision of the Convention between Pakistan and Swiss Confederation for the avoidance of double… – Continue reading

Hong Kong, Russia DTA Enters Into Force

The comprehensive double taxation agreement (CDTA) between Hong Kong and Russia, which was signed in January this year, entered into force on July 29, 2016, and will be in effect in Hong Kong for any year of assessment beginning on or after April 1, 2017. The CDTA is said to… – Continue reading

Nine measures taken by government to curb black money

The government is hell-bent on cracking down on black money and undisclosed income of Indians within the country and safely stowed away abroad. While there is no proper estimation of the actual amount of black money in the economy, the government is actively taking measures to stop it. Recent media… – Continue reading

Ukraine, Austria Increase DTA Withholding Tax Rates

Ukraine and Austria have agreed to sign a protocol to their double taxation agreement to increase withholding tax rates on dividends, interest, and royalty income. The protocol increases the withholding tax rate for dividends and interest to 15 percent and five percent, respectively. Additionally, the royalty rate for patents, trademarks,… – Continue reading

UBS ordered to provide France with tax information

UBS (UBSG.S) has been ordered by Switzerland’s tax agency to provide France with tax information, the Swiss bank said on Tuesday, adding that it expected other countries to file similar requests. Since the financial crisis, cash-strapped governments around the world have clamped down on tax evasion, with authorities probing Swiss… – Continue reading

Assets agreement with US not quite ‘reciprocal’

Government most likely not to access bank data of Argentines in States despite deal As the whitewash bill is set to be approved this week, the government seeks to sign an assets deal with the United States to have access to data of the bank accounts of Argentines in the… – Continue reading

Double Taxation Avoidance Bill passes second reading at House of Reps

The quest by the President Muhammadu Buhari’s administration to improve the ease of doing business in Nigeria and diversify the nation’s economy on Wednesday received a boost. This followed the passage of “a Bill for an Act to Provide for the Domestication and Enforcement in Nigeria of the Avoidance of… – Continue reading

Cyprus says ‘very close’ to revising tax treaty with India

In a step forward, Cyprus has said it is “very close” to revising the bilateral tax treaty with India as the island nation has accepted “in principle” proposals made by the Indian side on taxing capital gains. Cyprus, a source of significant foreign fund flows into the country, said rising… – Continue reading

FBR seeks powers in Finance Bill to prevent tax evasions

The FBR has proposed powers through Finance Bill 2016-17 for entering into treaty with bilateral or multilateral forums for exchange of information to ensure prevention of tax evasions in the aftermath of Panama Leaks disclosure that many Pakistani influential owned offshore companies abroad. In totality, the FBR took tax measures… – Continue reading