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Ireland-Chile Double Tax Pact Enhanced

by Jason Gorringe, Tax-News.com, London

12 December 2017


In an e-brief issued on December 12, 2017, the Irish tax agency announced that maximum withholding tax rates on cross-border passive income have been lowered under the Ireland-Chile double tax agreement (DTA).

The DTA includes a provision that stipulates that if more favorable terms than those agreed when the Chile DTA came into effect on January 1, 2009, are added to a subsequently concluded double tax deal with another country, the Chile deal will be updated to also include such terms.

More preferential terms were agreed in Chile's new double tax agreement concluded with Japan, which came into effect from January 1, 2017. As a result of such, the withholding tax rate on interest payments in the Chile-Ireland deal is to be reduced from 15 percent or five percent to four percent in certain circumstances and the withholding tax on royalty payments for the use of, or the right to use, any industrial, commercial, or scientific equipment is reduced from five percent to two percent, effective from January 1, 2017.

TAGS: tax | Chile | Ireland | interest | tax rates | withholding tax | Japan

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