Maltese delegation in China concludes talks on avoidance of double taxation between the two countries

As reported in the Department of Information Malta, a Maltese delegation of experts visiting China have concluded talks that will update and upgrade the current agreement for the avoidance of double taxation (DTA) between Malta and China. The agreement was initialed by both sides yesterday, however it is anticipated that the agreement will be officially signed off in an official ceremony that will take place in Malta some time later this year.

Malta’s Ambassador to China, Mr Karl Xuereb confirmed that this new agreement further consolidated Malta’s positive relationship with China. He reiterated Sino-Maltese relations were at the forefront of this administration’s foreign affairs policy and added that Minister Tonio Borg was fully aware of the importance and the impact that China is having on the world.

He added that during 2009, 12 bilateral agreements were signed in the fields of health, education, judicial matters, culture, trade and investment, which is proof of the government’s commitment to its relationship with China. He also said that in the last 4 years, bilateral trade has increased by 140 per cent.

In the past 22 months, the government signed 19 DTAs with a view to attract foreign direct investment to Malta and to boost further commercial activities by the Maltese business community.