- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Double Taxation Relief (Taxes on Income)(Chile) Order 2003 No. 3200
It is agreed that, in relation to the application of the additional tax under the laws of Chile, should:
(i)the first category tax cease to be fully creditable in computing the amount of additional tax to be paid; or
(ii)the rate of additional tax imposed with respect to residents of the United Kingdom, as determined under the provisions of Article 4 of this Convention exceed 42 per cent.
the Contracting States shall consult with each other with a view to amending the Convention to re-establish the balance of benefits under the Convention.
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