May 2019 Market Update

May 2019 Market Update
6.10.2019

Azerbaijan entered into a new double taxation treaty with Jordan effective 01 January 2017.

Azerbaijan entered into a new double taxation treaty with Turkmenistan effective 01 January 2020.

Costa Rica entered into a new double taxation treaty with Mexico effective 01 January 2020.

Malta entered into a new double taxation treaty with Monaco effective 01 January 2020.

Nicaragua increased its statutory withholding tax rate on dividends from 7.5% to 10.5% effective 28 February 2019. A final withholding tax rate of 15% applies to dividends. Such rate will be applied to 70% of the gross payment; therefore, the effective tax withholding rate is 10.5%.

Oman decreased its statutory withholding tax rate on dividends from 10% to 0% effective 06 May 2019 on dividends (derived from equity shares and mutual fund units) paid from 06 May 2019 to 06 May 2022. Please note this is just a suspension and not an official change to the statutory rate, and is subject to change at any time.

Qatar entered into a new double taxation treaty with Ukraine effective 01 January 2020.

 

 

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