Financial Secretary Jane Kennedy has released details of UK’s treaty negotiating priorities for the year ending March 31, 2009, revealing HM Revenue & Customs (HMRC) plans to complete work on new double taxation conventions (DTCs) with the Netherlands, Ethiopia, Libya and Thailand; and on Tax Information Agreements with Brazil, Jersey, Guernsey, Isle of Man and the British Virgin Islands.

Kennedy said HMRC also intended to progress negotiations with China, US, Spain, Belgium, Luxembourg and Hungary and start negotiations with Australia, Canada, Israel and Spain.

The DTC between the UK and Macedonia, signed on November 8, 2006, entered into force on August 8. In the UK, the provisions of the convention took effect on April 1 for corporation tax purposes, and on April 6 for income tax and capital gains tax purposes, while in Macedonia, the provisions took effect from January 1.

A protocol to the DTC between the UK and Switzerland signed on June 26 is not yet in force but the new comprehensive DTC between the UK and France was signed on June 19.

Further reading:

UK, France sign major double taxation convention