In an expected move, the Protocol to the Double Taxation Agreement between the UK and China recently entered into force on 13 December 2013, reports Nair & Co.â€™s International Tax Team.
Online PR News – 08-January-2014 – Sunnyvale, CA 94085, U.S – In an expected move, the Protocol to the Double Taxation Agreement between the UK and China recently entered into force on 13 December 2013, reports Nair & Co.â€™s International Tax Team.
The provisions of the protocol, which among others include a reduction in withholding tax to 5% on inter-company dividends fulfilling certain conditions, are applicable in China from 1 January 2014. The same shall apply in the UK on or after 1 April 2014 for corporate taxes and from 6 April 2014 for income and capital gains taxes.
For details, please read our previous release at: http://www.nair-co.com/China-UKTaxProtocol-15-04-2013.aspx
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