A double taxation treaty was signed with Israel in March 2005. In June 2009, Luxembourg signed a new tax cooperation agreement with France, which will allow the exchange of tax information, which is 50 years old. (2) In the case of Portugal, double taxation is avoided in accordance with the provisions of Portuguese law (unless they are contrary to the general principles laid down in this paragraph) as follows: currently, the rules of tax rules govern the application of double taxation and the possibilities of avoiding legal and economic disadvantages. Thus, two legal norms aimed at avoiding double taxation can be considered: first, national legislation and, second, international treaties ratified by Portugal. It is advisable to talk to our lawyers in Portugal and get legal help if you are starting a business in Portugal or if you are more familiar with the tax structure in that country. For more information on how to avoid double taxation, please contact our law firm in Portugal. The agreement should help promote closer economic and trade relations between the two localities and further encourage Luxembourg companies to do business or invest in Hong Kong. In international practice, there are three basic methods for eliminating double taxation: on 28 April 2009, Luxembourg Finance Minister Luc Frieden announced that Luxembourg had agreed with the United States on the terms of an agreement amending its 1996 double taxation convention. 1. The competent authorities of the Contracting States shall exchange the information necessary for the application of the provisions of this Convention or of the domestic law of the Contracting States concerning the taxes covered by this Convention, in so far as the imposition of this Convention is not contrary to this Convention.
Article 1 does not limit the exchange of information. All information received by a State Party shall be treated in the same manner as information obtained under the national law of that State and may be disclosed only to persons or authorities (including courts and administrative authorities) who are responsible for the assessment or collection, enforcement or prosecution of or an appeal decision in respect of taxes governed by the this Convention. Such persons or authorities shall use the information thus obtained only for those purposes. You may disclose the information as part of a public legal proceeding or court order. (1) In the case of Luxembourg, double taxation is avoided as follows: in July 2009, Luxembourg and Finland signed a Protocol amending the Treaty of 1 March 1982 between Finland and the Grand Duchy in order to avoid double taxation and the avoidance of tax evasion of income and capital. 2. The Convention shall also apply to identical or substantially similar fees levied after the date of signature of the Agreement in addition to or in place of existing fees. At the beginning of each year, the competent authorities of the States Parties shall notify each other of substantial changes in their respective tax laws made during the previous year. In accordance with paragraph 1 of the Protocol, the competent authorities of States Parties shall exchange information "foreseeable for the application of the provisions of this Convention or for the administration or application of national tax legislation of any kind and nature collected on behalf of States Parties or their political subdivisions or local authorities; to the extent that the taxation provided for in this Agreement is not contrary to the Agreement. This agreement allows for the exchange, upon request, of tax information between tax authorities in specific cases defined in accordance with the agreement. . .