Australia plans to expand its existing network of 45 bilateral tax treaties by entering into 10 new and updated tax treaties by 2023, according to a September 15 announcement from Australian Treasurer Josh Frydenberg.
The government said that the expansion of its treaty network, which is intended to help support Australian businesses and the economic recovery, will cover 80% of foreign investment in Australia.
Tax treaty negotiations are already underway with India, Luxembourg, and Iceland. In addition, there are negotiations scheduled for the coming year with Greece, Portugal, and Slovenia.
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