PRC and Austria Concluded Taxation Agreement
ISSUING AUTHORITY:
State Taxation Administration
DATE OF ISSUANCE:
September 14, 2023
EFFECTIVE DATE:
September 14, 2023
On September 14, 2023, Wang Jun, Director of the State Taxation Administration of PRC, and Magnus Brunner, Federal Minister of Finance of Austria, signed the Protocol on Amendment to the Agreement Between the Government of the People’s Republic of China and the Government of the Republic of Austria for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income and On Capital and the Protocol thereto, in Vienna, on behalf of their respective governments (the “Protocol”).
The Protocol sets forth certain amendments to the taxation agreement signed between the Government of PRC and the Government of Austria in 1991, which are based on the trade and economic development needs of PRC and Austria, reflect the latest development of domestic laws of PRC and Austria and international tax rules, and further reduce the tax burdens of the taxpayers of PRC and Austria in relation to investments in the other state. The Protocol will play an active role in promoting bilateral trade, technology, capital and personnel exchange and help to further deepen economic cooperation and development of the two countries.
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