concerned with entering into an agreement to avoid double taxation and to prevent tax evasion with respect to the taxation of income and income from capital; It is much more common to seek the services of a qualified and experienced accountant to seek tax breaks through double taxation agreements. Fees vary depending on the complexity of an individual`s personal life, in almost all cases, the tax savings far exceed all the costs of using an accountant – and they can be sure to pay the correct amount of tax with total confidence. Each double taxation agreement is different, although many follow very similar guidelines, although the details are different. ARTICLE 26.-1) This Convention does not affect the tax privileges of diplomatic or consular officials under the general rules of international law or the provisions of specific agreements. That`s why we offer a first free consultation with a qualified accountant that will give you answers to your questions and help you understand if a double taxation agreement could apply to you and help you save huge amounts of unnecessary taxes. For the purposes of this article, we consider that a person is tax resident in the United Kingdom and resident of an additional country, although double taxation agreements may exist between two countries. 2. The competent authority endeavours to resolve the matter by mutual agreement with the competent authority of the other contracting State where the objection appears to be well founded and is unable to find an appropriate solution to resolve the matter by mutual agreement with the competent authority of the other contracting State, in order to avoid taxation that is not in accordance with the convention. Double taxation agreements (also known as double taxation agreements) are concluded between two countries that define the tax rules for a tax established in both countries. Although the application of double taxation agreements is relatively common, the right to tax relief can be complicated.
3. The competent authorities of the contracting states try to resolve by mutual agreement any difficulty or doubt about the interpretation or application of the convention. The table below shows countries that have entered into a double taxation agreement with the United Kingdom (as of October 23, 2018). On the UK government`s website, you will find an updated list of active and historic double taxation conventions. The comprehensive agreement that came into force on 23 August 1980 (SI 1980/1091) came into force in the United Kingdom from 1977 to 1978 for income tax and capital gains tax from 1 April 1977 (4) The competent authorities of the contracting states may communicate directly with each other in order to reach an agreement within the meaning of the previous paragraphs of this article. It is essential to determine whether this is possible and how a double taxation agreement should be applied, given that it is the country of residence that generally pays tax duties. (d) if he is a national of the two contracting states or of one of those contracting states, the competent authorities of the contracting states resolve the matter by mutual agreement. Since there are many rules and complications that can arise when applying double taxation agreements, it is important to seek professional help from a qualified and experienced accountant. Look at tax rates, the latest tax news and information on double taxation agreements with our specialized online resources, guides and useful links. We contain a collection of global double taxation conventions in English (and other languages, if available) to assist members in their applications.