On September 13, the UK government published an amending protocol to the tax treaty between the UK and Taiwan. The protocol was signed on August 11 in London and August 19 in Taipei and would amend the 2002 tax treaty in force between the two jurisdictions.
The protocol would revise the treaty’s article on dividends to provide for a 15% withholding rate – in addition to the existing 10% general dividend withholding rate – for certain income derived from immovable property.
The protocol would also completely replace the articles on mutual agreement procedure and exchange of information. In addition, a new article on entitlement to benefits would address transactions undertaken with a principal purpose of obtaining benefits under the treaty.
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