Slovenia signs tax treaty with Australia
Slovenia and Australia have signed a tax treaty in a bid to eliminate double taxation of income and to prevent tax fraud and tax evasion. The Slovenian Finance Ministry says the agreement affirms the commitment of both countries to strengthen economic cooperation and trade.
The treaty, called the Convention for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance, was signed on 9 September in Canberra by Slovenian Finance Ministry State Secretary Katja Božič and Andrew Leigh, Australia's assistant minister for competition, charities and treasury.
In a post on the signing on its website on 12 September, the Finance Ministry says the treaty eliminates double taxation of income between Slovenia and Australia, increases tax certainty, reduces tax rates, prevents discrimination and allows for the exchange of information on taxes. The countries will be able to aid each other in tax collection and will be able to better resolve tax disputes.
"This will create new opportunities for Australian businesses by making it cheaper for Australian businesses to access Slovenian capital and technology," the Australian Treasury wrote. The treaty will also decrease costs and improve certainty for businesses that have dealings in both countries.
Slovenia exported €139 million worth of goods to Australia in 2023 while importing merchandise worth €5 million. With €144 million in bilateral trade, Australia placed 44th among Slovenia's trading partners, according to information on the website of Spirit, the Slovenian agency for the promotion of investment, entrepreneurship and internationalisation.