Also in the news...
Who is subject to financial sanctions in the UK?
A guide to the current consolidated list of asset freeze targets, and a list of persons named in relation to financial and investment restrictions under the Russia regulations
Homes for Ukraine visa sponsorship scheme: privacy notice
Homes for Ukraine visa sponsorship scheme: How we use personal data.
Check duties and customs procedures for exporting goods
Find information about how to move goods from the UK to the rest of the world.
Record-breaking £150bn investment unveiled during US State Visit
Record-breaking investment into the UK of £150 billon unveiled during historic US State Visit, boosting jobs and catapulting growth
US financial giants boost UK investments and jobs across London, Edinburgh, Belfast and Manchester
The Government has announced over £1.25 billion of inward investment from US finance companies, creating 1,800 UK jobs.
Revised Double Tax Agreement (DTA) between Singapore and Luxembourg
A double tax agreement (DTA) stipulates the cooperation of two countries for reporting requirements upon its citizens of any tax obligations payable for profits earned by an individual or company.
Singapore and Luxembourg on the 9thof October 2013 have signed a revised DTA which includes the international agreed standard for exchange of information for tax purposes. The main benefit of DTA’s between two countries is to enhance trade and investment flows between the two countries engaged.
Other changes of the DTA include lower withholding tax rates for dividends, interest and royalties.
For double taxation agreements to work and develop between two countries there must be a sound cooperation between the parties involved.
Singapore and Luxembourg have lengthened the period tests for determining permanent establishment. The revised DTA will also provide a more favorable tax treatment for international transport and shipping income.
This reconfirms the sound cooperation between the two countries and companies involved are encouraged to enhance trade between the two countries as the test period is promising for permanence.
For the revised DTA please see click here