Various tax treaties
Double Taxation Treaties (DTTs) between the following markets were signed and came into force with the rates as indicated in the following table:
Markets | Date signed (conclusion date) | Date in force | Applicable (effective date) | General DTT | |
Rates (%) | |||||
Equities | Debt | ||||
Czech Republic – Rwanda | 02.05.2023 | 30.10.2024 | 01.01.2025 | 10% | 10% |
Czech Republic- | 03.02.2023 | 27.08.2024 | 01.01.2025 | 10% | 5% |
Greece – Japan | 01.11.2023 | 05.12.2024 | 01.01.2025 | 10% | 10% |
Kuwait – Switzerland | 06.11.2019 | 14.10.2024 | 01.01.2025 | 15% | 10% |
New Zealand – Slovak Republic | 26.09.2023 | 01.11.2024 | 01.01.2025 | 15% | 10% |
Suspended DTTs
Canada: On 18 November 2024, Canada officially notified Russia to confirm the suspension of the Canada – Russia Income and Capital Tax Treaty (1995). The suspension takes effect from the same date, with respect to taxes withheld at source and other taxes, and it will continue until the two governments decide otherwise.
Romania has decided to fully suspend the Belarus – Romania Income and Capital Tax Treaty (1997), effective from 12 November 2024, by way of Order No. 2412 of 6 November 2024. The Order was published in Official Gazette No. 1126 of 12 November 2024. The suspension will remain effective until 1 January 2027, unless Belarus notifies Romania of another date regarding the continuation of the suspension.
Romania: the Romania – Russia Income and Capital Tax Treaty (1993), has been suspended effective from 14 October 2024, by way of Order No. 2009 of 30 September 2024. The Order was published in Official Gazette No. 1027 of 14 October 2024. The suspension will remain effective until Russia notifies Romania of the decision to resume its application of the treaty provisions.
Sweden: According to an update of 5 November 2024, published by the Russian Ministry of Finance, Sweden officially notified Russia, by way of note No. 67/24 of 25 October 2024, of its decision to suspend the Russia – Sweden Income and Capital Tax Treaty (1993), as amended by the 2018 protocol. The suspension will take effect from 1 February 2025.
Our Market DTT information will be updated in due course to reflect the new treaties.
This Taxflash is intended to provide clients with general information gathered from different sources that are generally believed to be reliable. LuxCSD S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the client’s own risk and LuxCSD S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice. |