- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Double Taxation Relief and International Tax Enforcement (Taxes on Income and Capital) (Moldova) Order 2008 No. 1795
(This note is not part of the Order)
A Convention dealing with the avoidance of double taxation and fiscal evasion between the United Kingdom and the Republic of Moldova (“the Convention”) is set out in the Schedule to this Order.
Article 2 makes a declaration as to the effect and content of arrangements set out in the Convention contained in Part 1 of the Schedule to the Order and in the Protocol contained in Part 2 of that Schedule and that it is expedient that those arrangements should have effect.
A detailed explanation of the Convention can be found in the Explanatory Memorandum published with the Convention and which may be accessed on the web site of the Office of Public Sector Information at http://www.opsi.gov.uk/stat.htm
The Convention will enter into force on the date of the later of the notifications by each country of the completion of its legislative procedures.
It will take effect in the Republic of Moldova—
in respect of taxes withheld at source, on income derived on or after 1st January of the calendar year next following the year in which this Convention enters into force; and
in respect of other taxes on income and on capital, to taxes chargeable for any tax year beginning on or after 1st January of the calendar year next following the year in which this Convention enters into force.
It will take effect in the United Kingdom—
in respect of income tax and capital gains tax, for any year of assessment beginning on or after 6th April next following the date on which this Convention enters into force; and
in respect of corporation tax, for any financial year beginning on or after 1st April next following the date on which this Convention enters into force (see Article 28 of the Convention).
The date of entry into force will, in due course, be published in the London, Edinburgh and Belfast Gazettes.
A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
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Draft Explanatory Memorandum sets out a brief statement of the purpose of a Draft Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Draft Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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