
Publication
We use cookies and other similar technology to collect data about you to allow us to deliver our online services, measure our website audience and improve your browsing experience. Full details on the cookies we use are set out in our Cookies policy. Please click OK to signify your consent to our use of cookies.
You can withdraw your consent by clicking “manage cookies” and following the instructions shown.
Global | Publication | January 2017
The new double tax agreement between Australia and Germany has now entered into force.
This is the first treaty in Australia which reflects the OECD’s Base Erosion and Profit Sharing (generally known as ‘BEPS’) Project recommendations for tax treaties. Changes introduced by this treaty will impact current structures and future deals involving German entities. Also, this is likely to be a template for Australia’s treaties into the future.
Features which implement BEPS Project recommendations include:
The withholding tax amendments apply for payments made from January 1, 2017. Amendments in respect of fringe benefits tax apply for fringe benefits provided on or after April 1, 2017. Amendments affecting income tax will have effect from July 1, 2017.
For information about the implications of the new tax treaty for your business, please contact one of our Australian Taxation (see below).
Publication
In a long-awaited decision, the Tribunal in a Paris-seated ICC arbitration has ordered the Republic of Turkey (Turkey) to pay the Republic of Iraq (Iraq) approximately USD 1.5bn and to suspend the loading and export of crude oil from Kurdistan transported through the Iraq-Turkey Pipeline (ITP).
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023