On 3 August 2015, Mali approved for ratification the pending income tax treaty with Monaco. The treaty, signed 13 February 2012, is the first of its kind between the two countries.
The treaty covers Monaco income tax, and covers Malian:
The treaty includes the provision that a permanent establishment will be deemed constituted when an enterprise furnishes services within a Contracting State through employees or other engaged personnel for the same or connected project for a period or periods aggregating more than 3 months within any 12-month period.
The following capital gains derived by a resident of one Contracting State may be taxed by the other State:
Gains from the alienation of other property by a resident of a Contracting State may only be taxed by that State.
Monaco applies the credit method for the elimination of double taxation, while Mali generally applies the exemption method. However, Mali applies the credit method for income referred to in Articles 9 (Associate Enterprises), 10 (Dividends), 11 (Interest), 12 (Royalties), 16 (Directors' Fees) and 17 (Artistes and Sportsmen).
The treaty will enter into force once the ratification instruments are exchange, and will apply from 1 January of the year following its entry into force.
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