Double Taxation update – priorities for 2014/15
The Government has recently announced their priorities for Double Taxation Agreements (DTAs) and Tax Information Exchange Agreements (TIEAs) in the period to 31 March 2015. This is part of an annual review designed to meet the needs of individuals and businesses who receive income from outside the UK. The Government also reviews the implementation of new TIEAs to ensure the exchange of tax information with tax authorities worldwide.
Over the coming months, HMRC plan to begin negotiations on DTAs and Protocols with Colombia, Kyrgyzstan and Trinidad. HMRC also plans to take forward work on DTAs and Protocols with Austria, Bulgaria, Canada, Croatia, India, Kosovo, Lesotho, Luxembourg, Malawi, Portugal, Russia, Senegal, Sweden, Tajikistan, Thailand, Turkmenistan and the USA and on TIEAs with several jurisdictions.