The UK has signed a comprehensive new double taxation convention with France.
It was completed in London with the signatures of by the Chancellor, Alistair Darling, and Christine Lagarde, the French minister for the economy, industry and employment.
The text will be laid as a schedule to a draft order in council for consideration by the House of Commons later this year, and then it will also be available from the Stationery Office.
The convention will enter into force once both countries have completed their parliamentary procedures, and it will replace the existing convention, which dates from 1968.
The convention with France that was signed on 28 January 2004 will not now be presented to Parliament and will therefore not enter into force.
Welcoming the new document, the Mr Darling said: 'This… represents continued progress in our efforts to modernise our network of double taxation conventions and marks a valuable step forward with one of the UK's most important trading and investment partners'.
