Georgia/March 2013
During the second half of 2012 and the first two months of 2013, Egypt has negotiated, signed and ratified a number of Double Tax Treaties (DTT) with other countries. What follows below is an overview of the developments in the last six months.
Egypt and Luxembourg commenced treaty negotiations in July of 2012, which are still ongoing. The agreement with Norway also holds the same status, with negotiations still ongoing, as is the case with the agreement with Qatar.
In December 2012, Egypt ratified two previously signed DTTs: the ones signed with Georgia and Ireland. The details of the agreement with Ireland (signed in April 2012) were included in the summer issue of our newsletter.
Meanwhile, Ireland has also ratified the treaty thus the treaty has entered into force and will be applicable from January 1 2014. The Double Tax Treaty with Georgia, signed in May of 2010 and ratified by Georgia in he same year) also got the Egyptian parliament’s seal of approval. That treaty stipulates standard 10% withholding tax rates on interest, dividends and royalties.
December was also the month during which a DTT with Mauritius was signed though details about the treaty have not been published yet.
In the first two months of 2013, Egypt has also initialized a new DTT with Germany, which is to replace the previous treaty of 1987.
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