Date: 2 December 2024 – 22 December 2024
Treasury is seeking comments on draft legislation and explanatory materials that introduce a new tax treaty between Australia and Portugal and amend explanatory notes in the International Tax Agreements Act 1953.
The treaty supports bilateral trade and investment and reduces double taxation by:
- lowering withholding tax rates on cross‑border interest, dividends and royalty payments;
- implementing base erosion and profit shifting (BEPS) recommendations.
Australia and Portugal signed the treaty on 30 November 2023. The treaty will apply after both countries exchange instruments of ratification.
Further information is available at the Treasury website.
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