Double Taxation Agreement Uk List

Double Taxation Agreement Uk List

Are you a UK resident earning income from another country? If so, you may be subject to double taxation, meaning you have to pay taxes in both the UK and the foreign country. However, don`t worry too much as the UK has double taxation agreements with many countries around the world to prevent this from happening.

Double taxation agreements are treaties signed by two countries to ensure that individuals or companies that earn income in both countries are taxed only once, and not twice. This agreement specifies how income is taxed, which country has the right to tax specific income, and the relief or exemption available to avoid double taxation.

The UK has signed double taxation agreements with over 130 countries around the world, including the United States, Australia, France, and Germany. The agreements cover various types of income, including employment income, business profits, royalties, and pensions.

To find out if your country of residence has a double taxation agreement with the UK, you can access the UK government`s Double Taxation Treaty Passport Scheme. This scheme allows UK-resident companies to claim relief on withholding tax, which is levied on certain types of income, such as dividends and royalties.

You can also find a list of the UK`s double taxation agreements on the government`s website. The list is organized alphabetically by country and includes information such as the date the agreement was signed, which countries are covered, and a link to the full text of the treaty.

It`s important to note that even with a double taxation agreement in place, you may still need to file a tax return in both countries. However, the agreement can provide relief in the form of a tax credit or exemption, which can reduce the amount of tax you have to pay.

In conclusion, if you are a UK resident earning income from another country, it`s important to know if a double taxation agreement is in place to avoid being taxed twice. With over 130 agreements in place, the UK is well-equipped to prevent double taxation and provide relief to those who do experience it. To find out more, check out the government`s website for a comprehensive list of double taxation agreements.

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