DT6927 - DT: Falkland Islands: double taxation agreement, Article 29: Entry into force

(1) Each of the territories shall notify to the other the completion of the procedures required by its law for the bringing into force of the Arrangement. The Arrangement shall enter into force on the date of the later of these notifications and shall thereupon have effect:

(a) in the United Kingdom:
(i) in respect of income tax and capital gains tax, for any year of assessment beginning on or after 6 April 1997;
(ii) in respect of corporation tax, for any financial year beginning on or after 1 April 1997; and
(b) in the Falkland Islands:
(i) in respect of income tax, including the tax on royalties and capital gains, for any year of assessment beginning on or after 1 January 1997;
(ii) in respect of corporation tax, including the tax on royalties and capital gains, for any financial year beginning on or after 1 January 1997.

(2) The Arrangement made in 1984 between the Government of the United Kingdom and the Government of the Falkland Islands for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income, as modified by the Supplementary Arrangement made in 1992, shall terminate and cease to be effective in respect of taxes to which this Arrangement in accordance with the provisions of sub-paragraph (1) of this Paragraph applies.