Entry into force of the UK/China Double Taxation Agreement and Protocol

Entry into force of the UK/China Double Taxation Agreement and Protocol

The Double Taxation Agreement between the UK and China, which was signed in London on 27 June 2011, and the Protocol signed in Beijing on 27 February 2013, entered into force on 13 December 2013.

Key provisions of the protocol and the Agreement include the following:

  • The withholding tax rate for dividends is 5% if the recipient is a company controlling directly at least 25% of the voting power of the company paying the dividends. Otherwise the rate is 10%.
  • The withholding tax rate for interest and royalties is 10%.
  • The agreement contains an administrative assistance clause in accordance with the OECD standard.

The provisions of this Agreement and Protocol shall have effect:

  • in China, in respect of profit, income and capital gains arising in any tax year beginning
    on or after 1st January 2014
  • in the United Kingdom

-          in respect of income tax and capital gains tax, for any year of assessment beginning on or after 6th April 2014

-          in respect of corporation tax, for any financial year beginning on or after 1st April 2014

 

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