Category: Double Taxation

COVID-19 and tax treaties: the updated OECD guidance

The new situation has created questions about the application of the existing tax treaty rules. For example, new taxing rights over an employee’s income may arise in a jurisdiction if an employee changes work location because of the COVID-19 restrictions. ... - Continue reading

Croatia to initiate tax treaty negotiations with the United States

The government of the Republic of Croatia, on September 30, adopted a decision to initiate proceedings to conclude a convention with the United States on the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income. ... - Continue reading

China’s Hong Kong, Serbia sign comprehensive avoidance of double taxation agreement

HONG KONG, Aug. 28 (Xinhua) — The government of China’s Hong Kong Special Administrative Region has signed a comprehensive avoidance of double taxation agreement (CDTA) with Serbia, signifying the government’s sustained efforts in expanding Hong Kong’s tax treaty network, a government spokesman said Friday. The CDTA is the 44th such… – Continue reading

Cyprus: Cyprus And Switzerland Agree Updated Double Tax Treaty

On 20 July 2020 Cyprus agreed an updated double tax treaty (DTT) with Switzerland. The signatory for Cyprus was Foreign Minister Constantinos Petrides, while his counterpart, Pierre-Yves Fux, signed on behalf of the Swiss Federal Council. The revised protocol will update the existing agreement, which has been in force since July 2014. Details of the protocol were published in the Official Gazette on the 24 July 2020 and are now undergoing the ratification process. ... - Continue reading

Canada: Don’t Let Your Dream Vacation Home Become A Tax Nightmare

Renting your foreign property may require you to disclose information to the Canada Revenue Agency (the "CRA"). A Foreign Income Verification Statement is required to be filed with the CRA where the adjusted cost base of the property exceeds CDN $100,000.  ... - Continue reading

Cabinet approves India-Sri Lanka Agreement amendment on double taxation, evasion

New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the signing and ratification of the protocol amending the Agreement between India and Sri Lanka for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, according to a Press… – Continue reading

Philippines lands in Forbes’ Top 25 Best Places to Retire in 2020

The Philippines was recognized as one of the best places where US expatriates (expats) could retire in 2020, according to a recent newsletter from Forbes. It was among 25 countries chosen by the American business magazine. The Philippines was described to be an “English-speaking Pacific Ocean nation of 7,400 islands”… – Continue reading

Dhaka, Prague sign deal to avoid double taxation

Bangladesh and the Czech Republic have signed a double taxation avoidance agreement (DTAA) in a bid to strengthen bilateral trade and investment ties between the two countries. National Board of Revenue (NBR) chairman Md Mosharraf Hossain Bhuiyan and Czech deputy prime minister and finance minister Alena Schillerova inked the agreement… – Continue reading

Cayman’s tax regime is ‘under attack’ by OECD proposal

A proposal by the Organisation for Economic Cooperation and Development that effectively seeks to establish a global minimum rate of corporate taxation ignores that Cayman’s tax neutral status is not harmful and is a viable alternative for eliminating double taxation and tax conflicts, says Jude Scott, the chief executive of… – Continue reading

Cambodian parliament ratifies double taxation avoidance pact with China’s Hong Kong

PHNOM PENH, Nov. 4 (Xinhua) — The Cambodian parliament on Monday ratified an agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income that the country had signed with China’s Hong Kong Special Administrative Region (HKSAR). Ruling Cambodian People’s Party’s 110… – Continue reading

African authorities strive to reduce tax leakages

African tax bodies will mark the 10th anniversary of their umbrella organization, the African Tax Administration Forum (ATAF), in their efforts to reduce tax leakages. A total of 38 African countries are members of the ATAF, making the organization Africa’s largest body that collectively deals with global tax issues affecting… – Continue reading