UK and International Tax news

UK – Germany Bank Levy Agreement

Thursday 29th December 2011

HMRC have recently confirmed that a new Bank Levy Agreement between the UK and the Federal Republic of Germany has been signed in London by Mark Hoban MP, Financial Secretary to the Treasury and Georg Boomgaarden, Ambassador of the Federal Republic of Germany.

The purpose of the Agreement is to eliminate double charging where a bank is chargeable to the bank levy in both countries. There is also a specific measure providing for the exchange of information in relation to the levies covered by the Agreement.

The Agreement enters into force once both countries have completed their legislative procedures and will have effect from 1 January 2011.

If you would like further information on the above, please contact Keith Rushen on 0044 (0)20 7486 2378.

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