18 September 2014
On 2 September 2014, the government of East Timor approved for ratification the pending income tax treaty with Portugal. Portugal ratified the treaty in August 2012. The treaty is the first of its kind between the two countries, and the first with any country for East Timor.
The treaty covers Portuguese personal and corporate income taxes, and surtaxes on corporate income. It covers East Timor income tax, wage tax and withholding tax.
Both countries apply the credit method for the elimination of double taxation.
The treaty will enter into force 30 days after the ratification instruments are exchanged, and will apply from 1 January of the year following its entry into force.
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