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Australia, Israel To Launch Tax Talks

by Mary Swire, Tax-News.com, Hong Kong

18 September 2015


The Australian Government has announced its intention to commence negotiations on a new double taxation agreement (DTA) with Israel.

Treasurer Joe Hockey said that the absence of a DTA "is holding back closer economic and financial links between our countries." He added that a bilateral tax treaty "would reduce the incidence of double taxation, provide greater tax certainty for businesses, and enhance the integrity of both countries' tax systems."

According to Hockey, Australian businesses would be able to take greater advantage of Israel's knowledge-based economy, with the biotechnology, ICT, education, and training sectors standing to benefit. The Treasurer also said that a DTA would encourage Israeli companies to view Australia as a regional base and supplier of goods and services.

The level of foreign direct investment from Israel in Australia has tripled over the last three years.

TAGS: tax | investment | business | double tax agreement (DTA) | training | Australia | Israel | agreements | education | services

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