Thursday, September 19, 2013

Malta Signs Double Taxation Avoidance Agreements With Turkey

www.bethelfinance.com

An income tax treaty for the avoidance of double taxation between the governments of Malta and Turkey will come into effect on January 01, 2014.
The treaty, which was signed in 2011, involves a 10 percent withholding tax on dividends paid by a Turkish resident company to a Maltese company in which it has at least a 25 percent stake. In all other cases a maximum withholding tax of 15 percent will be applied.
Under the terms of the treaty Malta will not tax dividends paid by a Maltese resident company to a Turkish resident company.
A maximum Turkish withholding tax of 10 percent will apply to interest paid by a Turkish resident to a Maltese resident beneficial owner of the interest income.

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