On 12 January 2017, the Italian Senate approved the pending income tax treaty with Barbados and the pending protocol to the 1980 income tax treaty with the Philippines.
The treaty with Barbados was signed on 24 August 2015 and is the first of its kind between the two countries. It will enter into force once the ratification instruments are exchanged, and will apply from 1 January of the year following its entry into force (previous coverage).
The protocol to the treaty with the Philippines was signed on 9 December 2013 and is the first to amend the treaty. It amends Articles 2 (Taxes Covered), 3 (General Definitions), and 22 (Methods for Elimination of Double Taxation), and replaces Article 25 (Exchange of Information). It will enter into force and apply from the date the ratification instruments are exchanged.
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