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UK, France sign major double taxation convention

Chancellor Alistair Darling and Christine Lagarde, the French minister for
economy, industry and employment, have signed a comprehensive double taxation
convention for consideration by the House of Commons later this year.

Darling said the new convention represented ‘continued progress in our
efforts to modernise our network of double taxation conventions and marks a
valuable step forward with one of the UK’s most important trading and investment
partners’, according to
TaxationWeb.co.uk.

The convention will enter into force and replace the existing convention of
1968 after passing through the parliamentary systems of both countries.

A convention with France signed on 28 January 28, 2004 will now not be
presented to Parliament and will therefore not enter into force.

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