convention between malta and netherlands in respect of curaçao for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income

On 18th November 2015, Malta and the Caribbean island of Curaçao have signed a convention for the avoidance of double taxation and the prevention of fiscal evasion with respect of taxes on income.  The agreement was signed by Malta’s Finance Minister, Edward Scicluna, and his counterpart from the constituent country of the Kingdom of the Netherlands, Jose Jardim.

The double taxation agreement entered into force on the 1st of January 2016.

The Double Taxation Agreement between Malta and Curaçao is mainly based on the OECD Model Tax Convention on Income and on Capital, but includes special provisions to cater for certain domestic taxation laws of both sides.

The agreement provides a means of settling on a uniform basis the most common problems that arise in the field of international juridical double taxation. Its main purpose is to remove the obstacles that double taxation presents to the development of economic relations between Malta and Curaçao.

Such exchange of information is in line with internationally-agreed standards and will therefore give more credibility to Malta and Curaçao where transparency and exchange of information on tax matters are concerned.  The agreement sends out a signal that both Malta and Curaçao are committed to respecting international standards on the prevention of tax evasion.