Managing the Global Mobility Function 2012: Now Available
Tag Archive
People’s Republic of China: Totalization Agreement with Korea Could Affect Assignment Costs
A Social Security Treaty (“the Treaty”) has been concluded between the People’s Republic of China (“China”) and the Republic of Korea (“Korea”).1 To benefit from the Treaty, Korean companies should review the social insurance participation of their assignees working in China in a timely manner and arrange to obtain and submit the required documents... »
United Kingdom: First-Time Treaty Signed with Liechtenstein
Her Majesty’s Revenue & Customs (HMRC) in the United Kingdom has confirmed that a new first-time comprehensive income tax treaty between the U.K. and Liechtenstein was signed in London on 11 June 2012. Previously, there has only been a Tax Information Exchange Agreement between the two countries. The aims of this treaty include reducing... »
United Kingdom: New Treaty with Barbados Signed
Her Majesty’s Revenue & Customs (HMRC) in the United Kingdom has confirmed that a new income tax treaty between the U.K. and Barbados was signed in Barbados on 26 April 2012. This treaty generally follows the OECD Model Double Taxation Convention and there are some noteworthy provisions that may concern international executives and their... »
Luxembourg: Tax Developments
Recent developments in Luxembourg, including treaties, the new social security and income tax parameters, and other tax matters. Treaties Protocol to Double Taxation Treaty (DTT) Luxembourg-Japan Entered into Force The protocol, signed on 25 January 2010 in Luxembourg (published in Mémorial A – N° 146 of 21 July 2011) to the Luxembourg-Japan income and... »
United Kingdom-Hungary Double Taxation Treaty
Her Majesty’s Revenue & Customs (HMRC) in the United Kingdom has confirmed that a new income tax treaty between the U.K. and the Republic of Hungary was signed in Budapest on 7 September 20111. Overview The new treaty generally follows the OECD Model Double Taxation Convention. Some of the more noteworthy items, for multinational... »
Czech Republic Double Taxation Treaty Update
In May and June 2011, the Czech Republic’s Minister of Finance signed double taxation treaties with the governments of Hong Kong (SAR) and the Kingdom of Bahrain. In addition, double taxation treaties with Denmark (replacing the existing one which is nearly thirty years old) and with Poland (replacing the treaty of 1993) are being... »
Japan, Hong Kong Sign First Tax Treaty
On 9 November 2010, Japan and the Hong Kong Special Administrative Region of the People’s Republic of China (“Hong Kong”) signed the first income tax treaty (the Treaty) between the two jurisdictions.1 The two governments reached a basic agreement in March 2010, and since then have been negotiating details of the text of the... »
Analysis of New Tax Treaty Between Germany and U.K
The Federal Republic of Germany and the United Kingdom of Great Britain and Northern Ireland signed a new tax treaty on 30 March 2010.1 This treaty for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital (“DTT”) will replace the treaty of... »
U.S.-Italy Income Tax Treaty Analyzed
A new income tax treaty between the United States and Italy (the “Treaty” or “new Treaty”) entered into force on December 16, 2009, and is effective for general purposes for the 2010 and subsequent tax years. The Treaty is accompanied by a Protocol and Technical Explanation, and replaces a prior treaty between the two... »
U.K.–France Income Tax Treaty Enters into Force
Her Majesty’s Revenue & Customs (HMRC) in the United Kingdom confirmed that a new income tax treaty1 between the U.K. and France entered into force on 18 December 2009, following the completion of the legislative procedures by both countries. The treaty was signed in London on 19 June 2008. »