rocket
Orbitax subscribers can now easily follow the latest COVID-19-related tax measures being implemented worldwide. New to Orbitax? Create a free account to access your dashboard and latest tax news.
News Share

The Tax Hub

Daily Tax Newsletter

Mali-Monaco

Responsive image

Tax Treaty between Mali and Monaco has Entered into Force

On 30 September 2016, it was announced in Monaco's Official Journal that the income tax treaty with Mali entered into force on 1 August 2016. The treaty, signed 13 February 2012, is the first of its kind between the two countries.

Taxes Covered

The treaty covers Monaco profits tax, and covers Malian:

  • Tax on wages and salaries;
  • Tax on business profits;
  • Corporation tax;
  • Tax on property income;
  • Tax on income from securities;
  • Tax on agricultural profits;
  • Tax on capital gains on disposals;
  • Mining royalties;
  • License tax; and
  • Special tax on revaluation of immovable property.

Service PE

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.

Withholding Tax Rates

  • Dividends - 10%
  • Interest - 6%
  • Royalties - 15%

Capital Gains

The following capital gains derived by a resident of one Contracting State may be taxed by the other State:

  • Gains from the alienation of immovable property situated in the other State; and
  • Gains from the alienation of movable property forming part of the business property of a permanent establishment in the other State

Gains from the alienation of other property by a resident of a Contracting State may only be taxed by that State.

Double Taxation Relief

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 (Associated Enterprises), 10 (Dividends), 11 (Interest), 12 (Royalties), 16 (Directors' Fees) and 17 (Artistes and Sportsmen). For income referred to in Articles 10, 11 and 12, the amount of tax levied in Monaco shall be deemed to be equal to 10% of the gross dividends paid by Monaco enterprises with mixed capital, 20% for other dividends, 10% for interest and 20% for royalties.

Protocol

A protocol to the treaty, signed 30 August 2013, also entered into force on 1 August. The protocol replaces Article 25 (No Prejudicial or Restrictive Measures) and Article 27 (Exchange of Information).

Effective Date

The treaty and the protocol apply from 1 January 2017.

Powerful Tax Tools

NEW

FX Rates

Global FX Rates including Tax Year Average FX Rates and Spot Rates for all Reporting Currencies.

NEW

Corporate Tax Rates

Corporate tax rates, surtaxes, and effective tax rates for the current year, as well as historical rates and approved future rates.

NEW

Country Analysis

Detailed tax guidance for companies doing business in over 100 countries, including summaries and snapshots of key tax facts and issues.

NEW

Cross Border Tax Calculator

Calculate total tax costs and benefits of a cross border transaction including withholding tax, participation exemption and foreign tax credit rules.

NEW

Cross Border Tax Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment streams.

NEW

OECD BEPS Project

Complete overview of the OECD BEPS Project, including daily BEPS news, country adoption of BEPS measures, and an overview of the 15 BEPS Actions.

NEW

Tax Calendar

Customizable calendar tool that tracks corporate income tax, value added tax and transfer pricing obligations by country or entity.

NEW

Tax Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

NEW

Worldwide Tax Treaties

Repository including thousands of tax treaties (in English), OECD, UN and US Models, relevant EU Directives, Technical Explanations, and more.

NEW

Worldwide Tax Planner

Calculates the worldwide tax cost of what-if scenarios based on legal entity structure, taxable income, and cross border transactions.

NEW

Certified Rates Report

Customizable Certified Rates Report providing updated corporate and withholding tax rates at the end of each month for over 100 countries.

NEW

Withholding Tax Minimizer

Enables quick calculation of tax costs and benefits of cross border transactions considering all possible transaction combinations and optimal routes.

NEW

VAT Rates

Provides value added tax (VAT) rates, goods and services tax (GST) rates and other indirect tax rates for over 100 countries.

NEW

NOL Calculator

Country specific calculator to determine how net operating losses can be utilized in carryback and carryforward years.

NEW

Transfer Pricing Calculator

Calculates TP ratios under various TP methods and calculates the difference between target ratios and actual ratios.

NEW

Individual Income Tax Rates

Individual tax rates for over 100 countries.

Play of the Day

Compare Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

We’re here to help

We’re here to answer any questions you have about the Orbitax products and services.

Send us a message

Who’s behind Orbitax?

We’re committed to providing high value, low cost tax research and management solutions.

Learn More