Australia to negotiate new tax treaties with Ukraine and Brazil
The Australian Government is expanding its tax treaty negotiation program to work towards its first tax treaties with Ukraine and Brazil, and to update treaties with New Zealand, the Republic of Korea, and Sweden.
Australia’s work to negotiate a tax treaty with Ukraine, reflects the Government’s support for Ukraine. It provides new opportunities to strengthen our economic and people-to-people links.
Australia will also look to negotiate its first tax treaty with Brazil, which will bring significant economic benefits to both nations through reduced taxation barriers to trade and investment, more certainty and reduced compliance cost for taxpayers. The treaty will also feature integrity measures to reduce tax evasion.
Updating the tax treaties with New Zealand, the Republic of Korea, and Sweden ensures the tax treaties remain competitive, relevant to the changing global economy and consistent with the Government’s commitment to global tax integrity.
Work on the expanded tax treaty program is scheduled to run for four years, commencing this financial year. The expansion adds to Australia’s existing tax treaty program which concludes in 2027.