UK HMRC has published an amending protocol to the 2002 income tax treaty (agreement) with Taiwan. The protocol was signed by the UK on 11 August 2021 and by Taiwan on 19 August 2021 and includes the following main changes:
- The title and preamble are replaced in line with OECD BEPS standards;
- Article1 (Persons Covered) is amended with the addition of provisions regarding the treatment of transparent entities, providing that income or gains derived by or through an entity or arrangement that …