1. For the purposes of this agreement, “resident of a contracting state” means any person subject to state law because of his place of residence, place of residence, place of management or any other similar test. However, this concept does not include persons who, in that State party, are taxable only for income from sources of origin. That`s why we offer a first free consultation with a qualified accountant that will give you answers to your questions and help you understand if a double taxation agreement could apply to you and help you save huge amounts of unnecessary taxes. The competent authorities of the contracting states exchange the information necessary to apply the provisions of this Convention, to prevent fraud or to manage legal provisions against circumventing the law with respect to the taxes that are the subject of this Convention (which are available to them according to their respective tax laws). All information thus exchanged is considered secret and cannot be disclosed to persons other than persons (including a court or administrative tribunal) who are involved in the taxation, collection or enforcement of the taxes that are the subject of this Convention. No information can be exchanged that would reveal trade, trade, industrial or professional secrets or business procedures. If a person is considered non-resident in the United Kingdom under double taxation agreements, that person would only be taxable in the United Kingdom if the income comes from activities in the United Kingdom. This is important because it means that all non-UK income and investment profits are protected from UK tax. 3.
The competent authorities of the contracting states try to resolve by mutual agreement any difficulty or doubt about the interpretation or application of the convention. In particular, the competent authorities of the States Parties may agree on the following issues: 1. Pensions and pensions paid in one contracting state and paid to a resident of the other contracting state may be imposed in that other state. However, these pensions and annuities may also be taxed in the first contracting state, but only to the extent that the total amount paid to the resident of the other State party in a tax year or tax year exceeds ten thousand Canadian dollars ($10,000) or five thousand pounds sterling (5,000 pounds sterling), the highest amount being the highest.