TaxCorporate TaxUK and Libya kick off double taxation convention

UK and Libya kick off double taxation convention

First ever double taxation convention between UK and Libya has come into force after being signed in 2008

A groundbreaking double taxation agreement between Libya and the UK has come
into force, the taxman has announced.

The deal was originally signed in 2008 but has now been incorporated into
law.

In the UK, the provisions of the convention took effect from 1 April 2010 for
Corporation Tax purposes and from 6 April 2010 for income tax and capital gains
tax purposes. In Libya the provisions will take effect from 1 January 2011.

Further reading:

UK,
France sign major double taxation convention

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