Tax Evasion. Timorese and Portuguese Tax Men Unite.

Given the very low taxes in Timor-Leste. It can be expected that many Portuguese become tax refugees in Timor?

PRESS RELEASE

Meeting of the Council of Ministers on September 16^th, 2009

The Council of Ministers held, on this Wednesday, September 16^th. 2009, a meeting, in its meeting room, at the Government House, in Díli, and approved:

1. Agreement of Double Taxation with Portugal and Memorandum of Understanding on Double Taxation with Portugal.

This agreement aims to avoid Double Taxation and to prevent tax evasion in taxation issues on income and it is applicable to resident people in one or both countries.

It is the State's responsibility to collect the taxes on goods, immovable properties, companies' profits, air and sea transports, jointed companies, dividends, interests, royalties, surplus values, independent professions, dependent professions, artists and sportsmen, percentages of the members of the councils, pensions, public remuneration, investigating professors, students.