en | hu | ru | bg | ro | tr FacebookTwitterGoogle+LinkedInYouTubeInstagram
+ 357-24-636-919
+ 44-20-7556-0900
NEWS

Sign up for a free consultation
Subscribe to our newsletter
Request a return call
Downloadable brochures
Request a brochure
Newsletters
5 Minutes Offshore
Why LAVECO?
How to order a company from LAVECO Ltd
Latest news
Currency exchange rates: USD/1 unit
2017.08.23
HUF 0.0039
GBP 1.2879
CHF 1.0351
RUB 0.0169
HKD 0.1278
JPY 0.0092
CNY 0.1499
CAD 0.7939
AUD 0.793
BRL 0.3175
EUR 1.1761

Important Information

UK signed two new DTAs


19/03/2013

Treaties include benefits for individual and corporate taxpayers
On 14 March UK signed new comprehensive Double Taxation Conventions with Norway and Spain.

Important new features include:

Norway

  • A zero withholding tax on dividends received by pension funds and by companies that have a 10% or more control of the paying company.
  • The latest OECD provisions on business profits, exchange of information, assistance in collection and arbitration.
  • A change to the pensions article so that pensions will be taxed at source. Existing pensioners have the safeguard of being able to elect to continue to be taxed in their state of residence as provided by the current treaty.


Spain

  • This new treaty has substantial benefits for companies, pension schemes and individuals. The dividend withholding tax rate in the existing treaty is 15% for portfolio investors and this will be reduced to 10% for portfolio investors and to zero for direct investors and pension schemes. The withholding tax rates for interest and royalties are also reduced to zero.
  • The new DTC also makes other welcome improvements, such as a provision to clarify access to treaty benefits by participants in fiscally transparent entities, an arbitration provision and updated anti-abuse measures.


The Conventions will enter into force once the necessary legislative procedures have been completed.

www.intax-info.com

 



Related jurisdictions:
UK LLP
UK LTD
Top