Maltese Government Signs Agreements with Serbian Government
Two bilateral agreements with the Government of Serbia were signed by the Maltese Government. The agreements signed cover:
- A Protocol on the Readmission of Persons Residing without authorisation – this promises to facilitate the readmission of citizens from both Malta and the Republic of Serbia and furthermore honours the commitments set out in the agreement signed between the EU and the Republic of Serbia in 2007; and
- An Investment Guarantee Agreement – this will be a step forward in the promotion of investments between Malta and Serbia. It will promote investment flows and provide legal framework that clearly sets out investment norms and protection when investing in respective companies.
The Double Taxation Agreement that was signed on 9th September 2009 has entered into force on the 16th of June 2010. This treaty applies generally with effect from the 1st of January 2011. This will continue to strengthen bilateral ties and improve economic and trade relations. The treaty will reduce and under specific circumstances eliminate the statutory withholding tax applied by Serbia on defined types of passive income paid to non-resident entities.