Tax treaties between Austria, Canada and the Czech Republic

15.03.2012

The Austrian government has announced that the Ministry of Finance of Austria signed the revised agreement with Canada and Czech Republic for the avoidance of double taxation. Agreements include provisions for the exchange of tax information in accordance with international standards and mutual assistance in tax matters.

In connection with these agreements, Andreas Schieder (Minister of Finance of the Republic of Austria) said that after signing the agreements mentioned above, they will all be brought into compliance with the requirements of the OECD (Organization for Economic Cooperation and Development) for the implementation of their standards.

The signing of these agreements allowed the Republic of Austria to increase the number of tax treaties with other jurisdictions (in accordance with OECD standards), to 27. Currently, Austria is in active negotiations for similar agreements with other countries. 

Expert’s opinion

«Occupying a favorable geographical position between east and west, Austria is the most suitable jurisdiction for tax optimization. New signed treaties only help the republic of Austria to strengthen its Image.
Moreover, it is necessary to note, that high bank sector, most probably, one of the most reliable one by the current moment. The Austrian banks urged to increase and keep your savings as the bank secret is fixed at the state level. And Austria carefully preserves its advantage in our difficult time».

On the basis: http://www.austria.gv.at

Irina Lomakina ( the director of Moscow office of Honest & Bright )