Double Taxation Avoidance Treaty with Uruguay in ForceMEDIA ROOM
The Double Taxation Avoidance Treaty signed between Malta and Uruguay came into force after being signed in March 2011.
DTA agreement with Uruguay
This DTA agreement with Uruguay is the first one with a Latin American country. As recently reported by the Times of Malta, the agreement seeks to create attractive conditions for Uruguayan and Maltese investors but, contains provisions intended to prevent tax avoidance through improper use of the treaty.
Conclusion of further tax treaties
Recently, efforts have been made and are still being made to strengthen economic relations with Latin American countries and, for this reason, an attempt is being made to conclude tax treaties with a number of Latin American countries with a view to removing the obstacles that double taxation presents to the development of economic relations between countries.
Preventing tax evasion
This agreement seeks to create attractive conditions for Uruguayan and Maltese investors but, at the same time, contains some provisions intended to prevent tax avoidance through improper use of the treaty. The Exchange of Information article in this treaty is in line with internationally agreed standards and establishes the proper channels for exchange of information in a mutual effort to prevent tax evasion.