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DTA Analysis

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Double Taxation Agreements (DTAs) & Tax

Gibraltar

0

Australia

44

New Zealand

38

United Kingdom

133

Malta

71

Local taxation rates on pension income withdrawals

Gibraltar

0%

Australia

0%

New Zealand

0%

United Kingdom

0%
UP TO

Malta

0%
UP TO

The above rates are typically the taxation rates on the pension fund withdrawals over and above the lump sum entitlement. These are subject to change in the local jurisdictions at any time but demonstrate the importance of the DTAs in some jurisdictions. The above generic information is no substitute for proper and specific tax or financial advice from a specialist, which we would recommend any client takes.

Double Taxation Agreements are an integral part of financial planning and especially when discussing your retirement plans. Limiting your liability to tax will extend the longevity of your pension savings to enable a more prosperous retirement.

The table below details where the tax on pension income would be payable, depending on the country of residence and chosen product jurisdiction.

Data Analysis Key:

– DTA with either tax at residency or low tax from source

– No DTA, but low tax from source

– DTA but high tax from source

– No DTA, but high tax from source

*  – Additional information should be sought.

** – Depending on how benefits are paid.

DTA Analysis
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Albania | UK | Local
Algeria | UK
Anguilla
Antigua & Barbuda | Local
Argentina | Local | Local
Armenia | Local
Australia | NZ + Local * | Local | Local
Austria | Local | Local | Local | Local
Azerbaijan | Local | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Bahamas
Bahrain | Local | Local
Bangladesh | Local
Barbados | Local | Local
Belarus | Local
Belgium | Local | Local | Local | Local
Belize | Local
Bermuda
Bolivia | Local
Bosnia-Herzogovina | Local
Botswana | Local
Brazil
British Virgin Islands | Local
Brunei | Local
Bulgaria | Local | Malta
Burma | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Cameroon | UK
Canada | Local * | NZ + Local ** | Local *
Cayman Islands | Local * | Local *
Chile | Local | Local | UK
China (P.R.C.) | Australia | Local | Local | Local
Columbia | Local
Cook Islands
Croatia | Local | Local
Curaçao
Cyprus | Local | Local
Czech Republic | Local | Local | Local | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Denmark | Local | Local | Local * | Local
Dominica
Egypt | Local | Malta
Estonia | Local | Local
Ethiopia | Local
Falkland Islands | Local
Faroes | Local
Fiji | Local | Local
Finland | Local | Local | Local | Local
France | Local * | Local | Local | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Gambia | Local
Georgia | Local | Local
Germany | Local * | Local | Local | Local
Ghana | Local
Gibraltar
Greece | Local | Local
Grenada | Local
Guernsey | Local | Malta
Guyana | Local
Hong Kong | Local | UK + Local | Local
Hungary | Local | Local | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Iceland | UK | Malta
India | Local | Local | Local | Local
Indonesia | Local * | Local | UK
Iran
Ireland | Local | Local | Local | Local
Isle of Man | Local | Local
Israel | Local | Local
Italy | Local | Local | Local | Local
Ivory Coast | Local
Jamaica | Local
Japan | Local * | Local | Local
Jersey | Local | Local
Jordan | UK + Local | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Kazakhstan | Local
Kenya | UK
Kiribati | Local | Local
Korea (R.O.K.) | Local | Local | Local
Kosovo | Local
Kuwait | Local | Local
Latvia | Local | Local
Lebanon
Lesotho | Local | Local
Libya | Local | Local
Liechtenstein | UK | Local
Lithuania | Local | Local
Luxembourg | Local | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Macedonia | Local
Malawi | Local
Malaysia | Local | Local | Local
Malta | Local | Local
Marshall Islands
Mauritius | Local | Local
Mexico | Local | Local | Local | Local
Moldova | Local | Local
Mongolia | Local
Montenegro | Local | Local
Montserrat | Local
Morocco | Local | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Namibia | Local
Netherlands | Local | Local | Local | Local
Netherlands Antilles
New Zealand | Aust + Local | Local
Nigeria | UK *
Norway | Local | Local | UK * | Local
Oman | Local
Pakistan | Local | Local
Panama | Local
Papua New Guinea | Local | Local | Local
Philippines | Local | Local | Local
Poland | Local | Local | Local | Local
Portugal | Local | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Qatar | Local | Local
Romania | Local | Local | Local
Russian Federation | Local | Local | Local | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Saint Kitts and Nevis | Local
Samoa | Local
San Marino | Local
Saudi Arabia | Local | Local
Senegal | Local
Serbia | Local | Local
Sierra Leone | Local
Singapore | Local | Local | Local | Local
Sint Maarten
Slovakia | Local | Local | Local
Slovenia | Local | Local
Solomon Islands | Local
South Africa | Local | Local | Malta
South Korea | Local
Spain | Local | Local | Local | Local
Sri Lanka | Local | Local
St Christopher and Nevis
St Vincent and the Grenadines
Sudan | Local
Swaziland | Local
Sweden | Local | Local | UK | Local
Switzerland | Local * | Local | Local | Local
Syria | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Taipei | Local
Taiwan | Local | Local
Tajikistan | Local
Thailand | Local | Local | UK *
Trinidad & Tobago | Local
Tunisia | Local | Local
Turkey | Local * | Local | Local | Local
Turkmenistan | Local
Turks and Caicos Islands
Tuvalu | Local
Country of Residency Gibraltar
2.5%
Australia
0%
New Zealand
0%
UK
Up to 45%
Malta
Up to 35%
Uganda | Local
Ukraine | Local
United Arab Emirates | Local | Local | Local
United Kingdom | Local | Local | Local
United States of America | Local | Local ** | Local | Local *
Uruguay | Local | Local
USSR | Local
Uzbekistan | Local
Vanuatu
Venezuela | Local
Vietnam | Local | Local | Local | Local
Zaire | UK
Zambia | Local
Zimbabwe | UK

This guide is based on IVCM’s interpretation of the agreements and should not be constructed as advice.

Member’s should seek their own tax advice for their country of residence.

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