Malta Initials Double Tax Treaty WIth US
Tonio Fenech, Malta's Minister of Finance, Economy and Investment, has initialled
the text of a Treaty for the Avoidance of Double Taxation between Malta and
the United States. The Malta/US DTA was signed in the presence of US Ambassador Molly Bordonaro,
on March 27th, 2008. Michael Mundaca headed the US Treasury delegation in Malta,
and initialled the document on behalf of the United States. The signing of the tax agreement was the culmination of a process which commenced
with a meeting between Prime Minister Lawrence Gonzi and President George Bush
in 2005. It ends formal negotiations, and prepares the treaty text agreed between
the two countries for ratification through a United States Senate for Foreign
Relations review. The treaty text is to be published on ratification as agreed
between both governments. The Maltese government has also announced that the agreement between Malta
and Singapore for the Avoidance of Double Taxation and Prevention of Fiscal
Evasion with respect to taxes on income became operative on February 29th, 2008. This agreement had been signed on March 26th, 2006, and it is expected to contribute
to a further expansion in trade between the two sides. .
|
|
IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.