Seychelles signs DTA with Luxembourg


Ms Fock Tave exchange documents with Mr Frieden after signing the agreement

The agreement was signed on June 4 in Luxembourg by the ambassador extraordinary and plenipotentiary, Vivianne Fock Tave, on behalf of the government of Seychelles and by Luc Frieden from the Ministry of Finance of Luxembourg on behalf of the Grand Duchy of Luxembourg.

A communiqué from the Ministry of Finance says the negotiations were concluded in a friendly atmosphere and a spirit of mutual understanding, adding that both delegations fully agreed on all articles.

The double taxation agreement (DTA) provides for certainty with regard to taxes payable on incomes generated from investments made and on services provided between the two countries.
It also provides an inducement to nationals of both countries to focus their attention on increasing trade, investment and employment opportunities.

Seychelles is in the process of negotiating further DTAs with Armenia, Singapore, Slovak Republic and Isle of Man and has scheduled negotiations with Uganda, Switzerland, and Tanzania for the second half of this year.

In addition, Seychelles has recently signed a DTA with Bermuda and initialed one with San Marino.
In total Seychelles has 17 DTAs in force and hope to reach 20 by the end of 2012.

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