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NEW CHINA – ITALY DOUBLE TAX TREATY
On 19 June 2019, the Italian Council of Ministers approved the China – Italy Double Tax Treaty (“New DTT”), signed in Rome on 23 March 2019. The New DTT will enter into force 30 days after the exchange of the ratification instruments replacing the China – Italy Double Tax Treaty signed on 31 October 1986 (“Old DTT”).
The New DTT is generally in line with the 2017 OECD Model Tax Convention and the OECD Multilateral Convention, which both China and Italy signed in Paris in 2017. Provisions related to dividends, interest, royalties and capital gains introduce relevant changes compared to the Old DTT.
The Newsletter provides brief comments to the New DTT.
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