Ministers of Foreign Affairs of Liechtenstein and Malta have 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 strategies of both treaty partner states.
The accord includes provisions clarifying and governing the entitlement to tax treaty benefits of Liechtenstein pension funds, charitable organizations and investment funds. Both countries have agreed within the framework of the DTA to waive withholding taxes on dividends, interest and royalties. Furthermore, the treaty guarantees national taxing rights for the taxation of natural persons and includes an information exchange clause in accordance with the international standard. The residency of trusts is regulated separately.
The accord requires the parliamentary approval of both jurisdictions. No additional legislative measures are required for implementation of the treaty, which is expected to be applied from January 1, 2014.
Following the signing the agreement, the Liechtenstein government underlined its commitment to further expanding the DTA network both within and outside of Europe.
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