Malta’s continuous effort in extending its tax treaty network (nearly 70 treaties entered into by Malta up to the end of October 2013) is again evidenced by a new tax treaty signed with Liechtenstein.
Liechtenstein’s Foreign Minister and her Maltese counterpart George Vella have while in New York lately, signed a bilateral double taxation agreement between the two countries in respect of taxes on income and on wealth.
The Treaty is based on the Organization for Economic Cooperation and Development’s Model Convention and reflects the current agreement policies of the both treaty partner states.
However, prior to coming into force, the agreement requires the parliamentary approval of both jurisdictions, which nevertheless require no additional legislative measures for implementation of the Treaty.
The Treaty is expected to apply from the 1st of January 2014.
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