BAILII is celebrating 24 years of free online access to the law! Would you consider making a contribution?
No donation is too small. If every visitor before 31 December gives just £1, it will have a significant impact on BAILII's ability to continue providing free access to the law.
Thank you very much for your support!
 |
[Home] [Databases] [World Law] [Multidatabase Search] [Help] [Feedback] | |
United Kingdom Statutory Instruments |
||
|
You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Double Taxation Relief and International Tax Enforcement (Lesotho) Order 2018 No. 376 URL: http://www.bailii.org/uk/legis/num_reg/2018/uksi_2018376_en_1.html |
||
[New search] [Printable PDF version] [Help]
Statutory Instruments
Capital Gains Tax
Corporation Tax
Income Tax
Made
14th March 2018
At the Court at Buckingham Palace, the 14th day of March 2018
Present,
The Queen's Most Excellent Majesty in Council
A draft of this Order was laid before the House of Commons in accordance with section 5(2) of the Taxation (International and Other Provisions) Act 2010(1) and section 173(7) of the Finance Act 2006 (2) and approved by a resolution of that House.
Accordingly, Her Majesty, in exercising the powers conferred upon Her by section 2 of the Taxation (International and Other Provisions) Act 2010 and section 173(1) to (3) of the Finance Act 2006, by and with the advice of Her Privy Council, orders as follows-
1. This Order may be cited as the Double Taxation Relief and International Tax Enforcement (Lesotho) Order 2018.
2. It is declared that-
(a)the arrangements specified in the Agreement set out in the Schedule to this Order have been made with the Government of the Kingdom of Lesotho;
(b)the arrangements have been made with a view to affording relief from double taxation in relation to capital gains tax, corporation tax and income tax and taxes of a similar character imposed by the laws of the Kingdom of Lesotho and for the purposes of assisting international tax enforcement; and
(c)it is expedient that those arrangements should have effect.
Richard Tilbrook
Clerk of the Privy Council
Article 2
(This note is not part of the Order)
The Schedule to the Order contains an Agreement ("the Arrangements") between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Kingdom of Lesotho dealing with the avoidance of double taxation and the prevention of fiscal evasion. The Order brings the Arrangements into effect.
The Arrangements aim to eliminate the double taxation of income and gains arising in one country and paid to residents of the other country. This is done by allocating the taxing rights that each country has under its domestic law over the same income and gains, and/or by providing relief from double taxation. There are also specific measures which combat discriminatory tax treatment and provide for assistance in international tax enforcement.
Article 1 provides for citation.
Article 2 makes a declaration as to the effect and content of the Arrangements.
The Arrangements will enter into force on the date of the later of the notifications by each country of the completion of its legislative procedures.
The Arrangements will take effect as follows:
(a)in respect of Article 24 (Mutual agreement procedure), Article 25 (Exchange of information) and Article 26 (Assistance in the collection of taxes) from the date of entry into force of the Arrangements, without regard to the taxable period to which the matter relates,
(b)in respect of taxes withheld at source, for amounts paid or credited on or after the first day of the second month next following the date on which the Arrangements enter into force and
(c)in Lesotho, with regard to other taxes, in respect of years of assessment beginning on or after the date upon which the Arrangements enter into force.
(d)In the United Kingdom:
(i)subject to paragraphs (a) and (b) above, in respect of income tax and capital gains tax, for any year of assessment beginning on or after 6th April next following the date of entry into force of the Arrangements; and
(ii)in respect of corporation tax, for any financial year beginning on or after 1st April next following the date of entry into force of the Arrangements.
The date of entry into force will, in due course, be published in the London, Edinburgh and Belfast Gazettes.
A Tax Information and Impact Note has not been produced for the Order as it gives effect to a double taxation agreement. Double taxation agreements impose no obligations on taxpayers, rather they seek to eliminate double taxation and fiscal evasion.
