On 7 March 2019, Italy's Council of Ministers approved the law for the ratification of the pending income tax treaty with Gabon. The treaty, signed 28 June 1999, is the first of its kind between the two countries.
The treaty covers Gabon corporation tax, flat rate minimum tax, individual income tax, and tax on income from immovable property and covers Italian individual income tax and corporate income tax.
The following capital gains derived by a resident of one Contracting State may be taxed by the other State:
Gains from the alienation of other property by a resident of a Contracting State may only be taxed by that State.
Both countries generally apply the credit method for the elimination of double taxation.
The treaty will enter into force once the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force.
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