New double taxation legislation
New draft legislation together with explanatory memoranda has been published in relation to double taxation relief between the UK and five other countries.
The various pieces of legislation will take force once both countries party to an agreement have finalised their respective legislative procedures.
The draft legislation relates to agreements between the UK and
- Antigua and Barbuda
- Saint Christopher (Saint Kitts) and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
The agreements have been drafted to allow for the avoidance of double taxation and for the exchange of information necessary to prevent fraud. Some of the agreements also include other country specific measures. For example, the agreement with Montserrat amends the provisions on the taxation of pensions.