FED: Aust and Malaysia update tax agreement

AAP General News (Australia)
08-02-1999
FED: Aust and Malaysia update tax agreement

CANBERRA, Aug 2 AAP - Australia and Malaysia today signed off on an updated tax agreement
aiming to strengthen trade and investment links.

Australian Trade Minister Mark Vaile met with his Malaysian counterpart Rafidah Aziz in
Sydney today.

A statement released by Assistant Treasurer Rod Kemp said the two countries signed an
updated protocol amending the comprehensive tax agreement between the two countries.

He said the protocol would clarify the tax position of fees for technical services and
other categories of income.

"(It) will assist in the strengthening of our already close trade and investment links with
Malaysia," Senator Kemp said.

"I am confident that it will be well received by the business communities in both
countries."

Senator Kemp said the protocol would take force after both governments had complete
procedures necessary to give it the force of law.

The agreement ends the double taxation currently imposed on Australian residents receiving
fees for technical services paid by Malaysian residents.

AAP ear/ah

KEYWORD: TAX MALAYSIA

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