Curaçao and Malta have signed a convention for the avoidance of double taxation.
The two territories had first raised the idea of signing a treaty in October 2013. It is anticipated that the agreement will enter into force on January 1, 2016.
The treaty, which assigns taxing rights to the two territories to ensure that income is not taxed twice, is based on the OECD Model Tax Convention.
Malta's Finance Minister, Edward Scicluna, said of the agreement: "Although the two islands are far away from each other, business persons and companies use financial centers in every corner of the globe, so through this agreement we are also promoting financial business between us."
Curaçao's Minister of Finance, Jose Jardim, also echoed similar sentiments, stating that the deal would be beneficial to both jurisdictions as "Malta has a very important position in the European Union while Curaçao has an important position vis-à-vis the Latin American market."
By Courtesy of Lowtax.net
