Double taxation agreements

Malta will be signing two double taxation agreements with Urug-uay and China later on this year.

The Uruguayan agreement is new whereas that with China is an update of the one first signed on February 2, 1993.

Finance Minister Tonio Fenech welcomed both agreements saying the accord with Uruguay could pave the way for more agreements with South American countries. “South America is a region with a number of very important emergent markets experiencing important growth rates and, within the context of widening our horizons in terms of attracting trade and investment, such agreements assume paramount importance,” Mr Fenech said.

The updated agreement with China, Mr Fenech said, would provide investors from both countries with more attractive conditions for investment. “Such conditions may also help Chinese investors tap into the European market in a more efficient way. China is a country which is still growing strongly and offers significant investment potential,” he said.