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Phillip Fry
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United Kingdom Double The Financial Secretary said: "I am pleased to announce the programme of work on double taxation conventions for the year to 31 March 2009. The UK has a comprehensive network of bilateral double taxation conventions and we are committed to maintaining and strengthening this network. These agreements help UK business and investors to remain competitive by providing them with a measure of certainty and stability in their tax affairs." Below are details of negotiating priorities for the year to March 2009 and also reports on recent developments. Details The Government reviews the UK's Double Taxation Convention (DTC) priorities each year to ensure that the treaty network continues to meet the needs of the businesses and individuals receiving income from abroad. HM Revenue & Customs monitors the DTC networks of other countries and invites representations from business, individuals, representative bodies, other Government departments and others with an interest in this area. We use the results, balanced with an estimate of the resources available, to produce a schedule of work for the year ahead. Programme to 31 March 2009 The United Kingdom plans to complete work on new double taxation conventions with the Netherlands, Ethiopia, Libya and Thailand; and on Tax Information Agreements with Brazil, Jersey, Guernsey, Isle of Man and the British Virgin Islands. We intend to progress negotiations with China, US, Spain, Belgium, Luxembourg and Hungary. New talks We have plans to commence negotiations with Australia, Canada, Israel and Spain. [We will make further announcements about DTC talks with other jurisdictions as and when arrangements are in place.] Recent developments The DTC between the UK and Macedonia, signed on 8 November 2006, entered into force on 8 August 2007. The text has been published as the Schedule to the Double Taxation Relief (Taxes on Income) (Macedonia) Order 2007 (Statutory Instrument 2007 No. 2127), copies of which can be obtained from The Office of Public Sector Information. The text of the Order can be accessed on the Internet. In the UK the provisions of the Convention have effect from 1 April 2008 (for corporation tax purposes), and from 6 April 2008 (for income tax and capital gains tax purposes). In Macedonia, the provisions take effect from 1 January 2008. A new comprehensive DTC between the UK and the Faroes was signed on 20 June 2007. The text has been published as the Schedule to the Double Taxation Relief and International Tax Enforcement (Faroes) Order 2007 (Statutory Instrument 2007 No. 3469), copies of which can be obtained from The Office of Public Sector Information. The text of the DTC is available on the Internet. This Convention is not yet in force. A Protocol to the DTC between the UK and Switzerland was signed on 26 June 2007. The text has been published as the Schedule to the Double Taxation Relief (Taxes on Income) (Switzerland) Order 2007 (Statutory Instrument 2007 No. 3465), copies of which can be obtained from The Office of Public Sector Information. The text of the DTC is available on the Internet. This Protocol is not yet in force. A new comprehensive DTC between the UK and France was signed on 19 June 2008. The text of the new Convention can be accessed on the Internet. The text will be laid as a Schedule to a Draft Order in Council for consideration by the House of Commons later this year. A new DTC with France was originally signed on 28 January 2004. Changes to the tax systems in both countries meant that that Convention could not be taken forward and it has been replaced by the Convention signed on 19 June 2008 - which incorporates additional improvements over the 2004 text. Agreements were also signed with the following countries. The texts of these agreements are also available on the Internet as draft Statutory Instruments as detailed below. Bermuda (Tax Information Agreement signed on 4 December 2007): Moldova (Comprehensive DTC signed on 8 November 2007): New Zealand (Protocol to comprehensive DTC signed on 7 November 2007): Saudi Arabia (Comprehensive DTC signed on 30 October 2007): Slovenia (Comprehensive DTC signed on 14 November 2007): Representations about our programme to 31 March 2009 are invited and should be sent to:
Jas Sahni Email Jas Sahni Notes
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