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News
Revenue news
Double taxation
Details of the United Kingdom's treaty negotiating priorities for the year to 31 March 2005 have been announced by the Revenue.
The Revenue plans to complete work on new treaties with Botswana, Georgia, Poland and Slovenia. It intends to progress negotiations with the Cayman Islands, Greece, Iran, Luxembourg, Saudi Arabia and Serbia and Montenegro.
News
Revenue news
Double taxation
Details of the United Kingdom's treaty negotiating priorities for the year to 31 March 2005 have been announced by the Revenue.
The Revenue plans to complete work on new treaties with Botswana, Georgia, Poland and Slovenia. It intends to progress negotiations with the Cayman Islands, Greece, Iran, Luxembourg, Saudi Arabia and Serbia and Montenegro.
Plans exist for new or updated double taxation agreements with Hungary, Italy and Macedonia.
Representations are invited on any of the above matters. These 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.
(Inland Revenue news release dated 15 July 2004.)
Double tax agreement
A comprehensive double taxation agreement between the United Kingdom and Georgia was signed in London on 13 July 2004. Since Georgia's independence in 1991, there has been no double taxation agreement in force between the two countries.
The text of the agreement is available on the Revenue's website, at www.inlandrevenue.gov.uk/international/uk-georgia.pdf and will be published in due course as a schedule to a draft Order in Council and laid before the House of Commons for approval.
The agreement will enter into force once both countries have completed their constitutional procedures. In the United Kingdom the provisions will take effect from 1 April (for corporation tax purposes), and from 6 April (for income tax and capital gains tax purposes) following the date of entry into force. In Georgia, the provisions will take effect (in respect of taxes chargeable) from 1 January following the date of entry into force.
(Inland Revenue news release dated 14 July 2004.)
