The United Kingdom and Austria have signed a protocol amending the double taxation agreement (DTA) they share to provide for the exchange of tax information between the two countries’ tax authorities in cases where there is perpetration of a tax crime and in civil tax matters.
The protocol amending the existing DTA, first signed on April 30, 1969, was signed in Vienna on September 11, 2009, by Simon Smith, the UK Ambassador to Austria, and Andreas Schieder, Austria’s State Secretary.
The Protocol updates the exchange of information article of the DTA to bring it into line with current OECD standards. The agreement will compel the competent authorities of the contracting states to exchange relevant information relating to the administration or enforcement of the domestic laws concerning taxes.
The text of the protocol will shortly be presented to UK Parliament for approval and will enter into force once both countries have completed their legislative procedures. The provisions of the protocol will then take effect from the next calendar year.
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