The agreement with Belgium is for customs authorities cooperation. The tax convention with Luxembourg prevents double taxation.
Israel today signed economic agreements with Belgium and Luxembourg at the initiative of Minister of Foreign Affairs Silvan Shalom.
Israel signed a customs treaty with Belgium settling administrative arrangements between the two countries' customs authorities, designed to improve action against customs evaders. The agreement arranges for the transfer of information about methods of law enforcement and customs evasion, and concrete infomraiton about suspected smugglers and smuggled goods. The sharing of information will be subject to domestic Israeli law, nor will it affect security, diplomatic issues or public regulations.
Israel signed a tax convention with Luxembourg to prevent double taxation on the two countries' individuals and companies. The tax convention will apply to income and capital gains taxes, regardless of the method of levying them. The tax convention will prevent double taxation by setting rules governing the right to in each country, and obligating one country to grant a tax credit for taxes already paid in the other.
Published by Globes [online], Israel business news - www.globes.co.il - on December 14, 2004