The United Kingdom and Australia have this week concluded a joint tax agreement aimed at reducing tax and encouraging investment between the two nations.
The treaty signed by Australian Treasurer Peter Costello and British High Commissioner Sir Alistair Goodlad contained changes recommended in John Ralph's 1999 business taxation review, and will reduce levies on interest, dividend and royalty payments.
Commenting on the reforms, Costello said that he hoped it would both encourage Australian banks to lend abroad, and attract more business to Australia itself. "We think it will be positive," he predicted. "I'm not putting any figures on it but, to the extent that it increases two-way trade and investment, we believe that it will have an overall economic benefit."
The Australian government is also planning to come to a similar arrangement with Germany, and has recently worked upon a tax deal with the United States.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
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.
Write a comment