HMRC negotiating multiple tax treaties

Double taxation treaties are due to be reached with Macedonia, Moldova, Poland, Slovenia and Thailand; and a ‘protocol’ reached with Switzerland, according to paymaster general, Dawn Primarolo.

Primarolo announced the countries the government was negotiating with for the year ending March 2007, and said ‘bilateral double taxation agreements play an important role in facilitating trade investment and helping businesses to deal with tax systems across borders’.

Besides plans to complete work with six countries already mentioned, HM Revenue and Customs hopes to make progress on negotiatiosn with the Cayman Islands, China, Germany, Hungary, Faroe Islands and Saudi Arabia; and also to progress negotiations with the Crown Dependencies and Overseas Territories on Tax Information Exchange Agreements (TIEAs).

There are also plans for protocols to amend the existing DTAs with Australia, Mexico, New Zealand and South Africa.