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Amidst the fallout of the United Kingdoms’ referendum vote to leave the European Union, the immediate reaction in China was undeniably one of general pessimism. Both in the state media and throughout the general public’s social media response, the overriding opinion was that the decision was ill-judged and that the impact would be problematic for the economy. A closer inspection of the issues posed reveals a more nuanced situation, however, while there are also a number of reasons to be optimistic about future relations between China and the UK.
On the 9th of March 2015, in Manama- Bahrain, an agreement for the avoidance of double taxation was signed between the Republic of Cyprus and the Kingdom of Bahrain, subsequently the tax treaty was entered into force on 26 April 2016. The main objective of the agreement is to develop a stronger economic and trade relationship between the two countries.
Action 15 of the Action Plan on Base Erosion and Profit Shifting (BEPS) calling for the development of a multilateral instrument to modify bilateral tax treaties and for the implementation of measures was approved by the Committee of Fiscal Affairs and has been endorsed by G20 leaders, concluding that it was not only feasible but desirable and that further negotiations for the instrument should be assembled quickly.
18 Nov 2016
19 Nov 2015
19 Nov 2014