Double taxation agreement approved

The Government today approved a double taxation agreement with its 50th overseas country, Turkey.

The pact ensures that business people operating in both countries will only pay tax in one jurisdiction.

Such agreements have now been signed with a total of 50 countries worldwide including Vietnam, Chile, Georgia, Macedonia and Moldova in recent months.

Negotiations are also currently taking place with authorities in other countries.

The signing of a double taxation agreement is expected to have a positive impact on trade and investment between both countries.

The agreement with Turkey will come into force when it is ratified by the Dáil parliament in coming weeks.