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UK and France sign new double taxation convention

Chancellor Alistair Darling and the French Minister for the economy, industry and employment Christine Lagarde signed a new double taxation convention yesterday between the UK and France.

The convention will enter into force once both countries have completed their Parliamentary procedures and it will replace the existing convention, which dates from 1968.

The convention with France that was signed in January 2004 will not now be presented to Parliament and will therefore not enter into force.

Darling said: “This new convention represents continued progress in our efforts to modernise our network of double taxation conventions and marks a valuable step forward with one of the UK’s most important trading and investment partners.”

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