In 2003, the two countries signed a double taxation agreement.
In 2009 both nations have given some consideration for the signing of a double taxation agreement between their two nations.
Since this is inequitable, many nations make bilateral double taxation agreements with each other.
New Zealand has double taxation agreements with various countries that set out which country will tax specific types of income.
Many countries have now reached double taxation agreements with the UK where they will only tax your income once.
Britain has a double taxation agreement with Spain, to ensure people do not pay tax on the same income in both countries.
A withholding tax on royalties of 12% unless double taxation agreements apply.
A double taxation agreement is an agreement between two countries to reduce the amount of tax that's actually paid.
Also, investors in countries without a double taxation agreement prefer euros.
The UK has signed many double taxation agreements with other countries.