Following over a year of discussions, Ethiopia and the Netherlands have signed a double taxation agreement (DTA) with the aim of boosting bilateral economic cooperation, trade and investment.
The Ethiopian Finance and Economic Development State Minister, Alemayehu Gujo, and Netherlands ambassador to Ethiopia, Hans Blankenberg, signed the agreement in Addis Ababa on August 10, 2012.
The DTA exempts individuals and businesses in the two countries from paying taxes in both countries, and is intended to enable both nations to benefit from increased capital flows, exchange of technology, and goods and services trade.
Said to be based on the Organization for Economic Cooperation and Development Model Convention, the agreement also includes provision for the exchange of tax information between the two countries, and has an arbitration clause for the resolution of disputes.
In addition, it is reported that the withholding tax payable on interest and royalties paid from one country to the other has been fixed at 5%, as has the withholding tax payable on dividends where a shareholder from one country holds more than 10% of a company in the other.
Alemayehu said the agreement would take the already close relations between the two countries to a higher level, while Blankenberg added that it would help to enhance their relationship by providing Dutch investors in Ethiopia with certainty over the tax treatment of their investments, and expressed his hope that the DTA would boost the revenues Ethiopia earns from trade and investment with the Netherlands..
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Ukraine's Deputy Minister for Finance, Olena Makeeva, on September 22, 2015, confirmed the initialing of a DTA Protocol with Luxembourg.
Treaty Update: Isle of Man - Cayman Islands
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Treaty Update: Cameroon - Vietnam
Cameroon and Vietnam indicated on September 27, 2015, that they are to negotiate a DTA.
Treaty Update: Estonia - Vietnam
Estonia and Vietnam signed a DTA on September 28, 2015.
Treaty Update: Guernsey - Korea, South
Guernsey and South Korea signed a TIEA on September 23, 2015.
Treaty Update: San Marino - Latvia
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Treaty Update: Netherlands - Curaçao
Both houses of the Netherlands's Parliament have now approved new DTA arrangements with Curacao, after the upper house's approval of the deal on September 29.
Treaty Update: Spain - Uzbekistan
Spain on September 10, 2015, ratified the DTA it signed with Uzbekistan, publishing a notice in its September 10 edition of the Official Gazette.
Treaty Update: Georgia - Latvia
Georgia and Latvia signed a TIEA on September 29, 2015.
Treaty Update: Italy - Andorra
Italy and Andorra signed a TIEA on September 22, 2015.
Treaty Update: Jersey - Rwanda
Jersey ratified its DTA with Rwanda on September 22, 2015.
Treaty Update: Andorra - Portugal
Andorra and Portugal signed a DTA on September 27, 2015.
Treaty Update: Vietnam - Estonia
Vietnam and Estonia have signed a DTA, Vietnam's Foreign Ministry confirmed on September 27, 2015.
Treaty Update: Hong Kong - Australia
Hong Kong's Chief Secretary for Administration, Carrie Lam, called for the conclusion of a DTA between Hong Kong and Australia during a recent event on September 18, 2015.
Treaty Update: Australia - Israel
The Australian Government announced on September 17, 2015, that it intends to launch DTA negotiations with Israel.
Treaty Update: Sweden - United Kingdom
The Swedish Government forwarded a new DTA with the United Kingdom to Parliament for its approval on September 22, 2015.
Treaty Update: Spain - Belgium
Spain's Council of Ministers on September 11, 2015, approved a law to ratify a Protocol to the 1995 DTA with Belgium.
Treaty Update: Iran - Iraq
Iran and Iraq on September 6 signed a DTA.
Treaty Update: Andorra - Various
Andorra indicated its desire to negotiate DTAs with Lithuania, Latvia, and Estonia at recent meetings, the Government said on September 16, 2015.
Treaty Update: Saudi Arabia - Gabon
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Treaty Update: Cape Verde - Guinea-Bissau
According to preliminary media reports, Cape Verde's Government has approved the text of a DTA with Guinea-Bissau.
Treaty Update: Azerbaijan - San Marino
Azerbaijan and San Marino signed a DTA on September 8, 2015.
Treaty Update: Switzerland - Norway
Switzerland signed a DTA Protocol with Norway on September 4, 2015.
Treaty Update: Netherlands - Curaçao
According to preliminary media reports, an agreement providing for new double tax avoidance arrangements was approved by the Dutch lower house of parliament on September 10, 2015.
Treaty Update: Qatar - Spain
Qatar and Spain signed a DTA on September 10, 2015.