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August 8, 2008
HP-1111
U.S., Malta Sign Income Tax Treaty
Washington, DC--The Treasury Department today announced that U.S. Ambassador to Malta, Molly Bordonaro, and Malta Finance Minister Tonio Fenech have signed a new income tax treaty between the two countries in the Maltese capital of Valletta.
The agreement provides for reduced withholding rates on cross-border dividend payments generally with the elimination of withholding on cross-border dividend payments to pension funds. It also generally provides for withholding at a 10-percent rate on interest, royalties, and other income.
The treaty also contains a comprehensive limitation of benefits provision and provides for the exchange of information between the competent authorities to facilitate the administration of each country's tax laws.
The final version of the treaty is attached.
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