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France Bank Bonuses TaxDecember 2009 France has decided to impose tax on bank bonuses paid to empoloyees.The details of the French new tax, similar to the U.K banks' bonuses tax, would be presented to the French parliment at the beginning of 2010. The German Chancellor welcomed the the imposing of the tax pointing out that banks and employees should bear the financial crisis too. France Australia Double Taxation TreatyJune 2009 The income tax treaty which was signed by both countries in June 2006 is now in force, starting June 1, 2009. France U.S. Protocol to Income Tax TreatyJanuary 2009 The U.S. and France signed on January 13, 2009 a protocol updating the current 1994 income tax treaty between the two countries. The protocol has some significant changes to the current treaty, including, under certain terms, exemption from tax withholding of dividend and cross border royalty payments. The protocol also rpovides for mandatory arbitration for cases not resolved by the two authorities within a specific period. It also deals with preventing "treaty shopping", in case of inappropriate use of a tax treaty by third country residents. For more details please see www.treas.gov. |
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