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- February 22, 2016
On 12 February 2016, Belize and the Czech Republic signed a Tax Information Exchange Agreement.
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- February 22, 2016
On 10 February 2016, Luxembourg and Senegal signed an Income Tax Treaty.
The Treaty will come into force after the two countries exchange ratification instruments. The provisions of the treaty will have effect from 1 January of the calendar year next following that in which the agreement enters into force.
In accordance with the Treaty, the following withholding taxes will apply:
Dividends:
- 5% if the beneficial owner is a company (other than a partnership) which owns
- directly at least 20% of the capital of the company paying the dividends.
- 15% in all other cases.
Interest: 10%.
Royalties:
- 6% on royalties paid for the use or the right to use industrial, commercial or scientific equipment.
- 10% in all other cases.
For more details reach us at [email protected]
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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.
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- 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.
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- 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.
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- 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.
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- 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%.
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