Newsletter
TAIWAN-SENEGAL DOUBLE TAXATION AGREEMENT TAKES EFFECT
The Agreement between the Republic of China and the Republic of Senegal for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income was signed on 20 January 2000. Article 27 of the Agreement provides that the Agreement takes effect from the date on which each signatory has notified the other that it has complied with the legal requirements necessary for the Agreement to take effect; and that in respect of taxes with-held at source, the Agreement applies to income paid or credited on or after the first day of the second month following the date when it takes effect, and in respect of other taxes on income, it applies to tax years beginning on or after 1 January of the year following the one in which it takes effect.
In an announcement dated 29 October 2004, the MOF stated that the legal procedures for the above Agreement to take effect have been completed, and that the Republic of Senegal was notified of this on 10 September 2004. Therefore, the Agreement took effect on 10 September 2004. Thus for tax withheld at source, the Agreement applies to income paid or credited on or after 1 November 2004, and for other income taxes, it applies to income in the tax year commencing 1 January 2005.