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- February 22, 2016
The Income Tax Treaty between Ireland and Botswana entered into force on 3 February 2016.
Its provisions will take effect from 4 March 2016 in Botswana and from 1 January 2017 in Ireland.
In accordance with the treaty, the following withholding taxes will apply:
Dividends: 5%.
Interest: 7.5%.
Royalties:
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- 5% on royalties in respect of the use of or the right to use industrial, commercial or scientific equipment.
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- 7.5% in all other cases.
- Article
- February 13, 2016
On 5 February 2016, Argentina and the United Arab Emirates signed a Tax Information Exchange Agreement.
Further details will be reported once the text of the Agreement becomes available.
- Article
- February 13, 2016
On 8 February 2016, Kenya signed the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
Kenya is the 12th African country to sign the Convention and the 94th jurisdiction to join it.
The agreement is designed to facilitate international co-operation among tax authorities to improve their ability to tackle tax evasion and avoidance.
- Article
- February 13, 2016
On 4 February 2016, Senegal signed the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
Senegal is the 11th African country to sign the Convention and the 93rd jurisdiction to join it.
The agreement is designed to facilitate international co-operation among tax authorities to improve their ability to tackle tax evasion and avoidance.
- Article
- February 13, 2016
The new Income and Capital Tax Treaty between Luxembourg and Estonia entered into force on 11 December 2015 and its provisions took effect on 1 January 2016.
The new treaty replaces the previous one of 2006.
In accordance with the new treaty, the following withholding taxes will apply:
Dividends:
- 0% if the beneficial owner is a company which holds directly at least 10% of the capital of the company paying the dividends.
- 10% in all other cases.
Interest: 0%.
Royalties: 0%.
- Article
- February 11, 2016
Honduras and Ecuador held a second round of negotiations towards a free trade agreement (FTA) between February 2 and 4, 2016, according to Ecuador’s Ministry of Foreign Trade.
Through the agreement, Ecuador is seeking to gain preferential tariff treatment for its exports to Honduras, especially for its non-traditional exports to that country, including metals, appliances, construction materials, wood, plastics, and agribusiness supplies.
The negotiations were launched in November 2015, and they are expected to be concluded in the first half of this year.
Ecuador’s exports to Honduras were worth USD9.64m and its imports from Honduras were valued at USD2.23m between January and November 2015. Ecuador’s Minister of Trade, Alejandro Dávalos, said that value-added products make up 60 percent of Ecuador’s exports to the Central American region.
Aside from Honduras, Ecuador is currently pursuing trade agreements with Nicaragua, El Salvador, Cuba, Turkey, and South Korea. It also plans to launch trade negotiations with the European Free Trade Association (EFTA) member states, the European Union, Iran, the Dominican Republic, and Costa Rica.
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