.png)
.png)
Double taxation agreements
The Inland Revenue has recently completed its review of double taxation agreements, and produced the following schedule of recent developments and negotiating priorities for the year to March 2003.
Programme to 31 March 2003
The top priority during the coming year will be the ratification of the new double taxation agreement with the United States, which was signed on 24 July 2001.
Double taxation agreements
The Inland Revenue has recently completed its review of double taxation agreements, and produced the following schedule of recent developments and negotiating priorities for the year to March 2003.
Programme to 31 March 2003
The top priority during the coming year will be the ratification of the new double taxation agreement with the United States, which was signed on 24 July 2001.
The Revenue aims to complete all the outstanding work on new treaties with France, South Africa and Taiwan. It also intends to continue negotiations with Australia, Botswana, Chile, Georgia, Namibia and Slovenia, and to complete the work on protocols to the existing treaties with Canada and the Netherlands.
Exploratory talks about new or updated double taxation agreements will be held with Croatia, Iran, Italy (protocol), Libya, Poland and the Federal Republic of Yugoslavia.
Following agreement of the Organisation for Economic Co-operation and Development model tax information exchange agreement, the Revenue also intends to begin negotiation of such agreements with jurisdictions which have made commitments to co-operate with the Organisation for Economic Co-operation and Development harmful tax practices initiative.
Recent developments
The limited shipping agreement with Hong Kong entered into force on 3 May 2001. A comprehensive double taxation agreements between the United Kingdom and the Hashemite Kingdom of Jordan was signed in Amman on 22 July 2001 and entered into force on 24 March 2002.
Negotiations on double taxation agreements have been held since March 2001 with Australia, Botswana, Canada, Chile, France, Georgia, Jordan, Namibia, Saudi Arabia, Slovenia and Taiwan.
Representations on any of the above matters are invited and should be sent to: Mrs Jas Sahni, Inland Revenue, Revenue Policy International, Victory House, 30-34 Kingsway, London WC2B 6ES, e-mail: Jas.Sahni@ir.gsi.gov.uk.
(Source: Inland Revenue news release dated 19 July 2002.)
