The Australian Treasury has launched a public consultation on draft legislation to ratify the pending income tax treaty with Portugal. The treaty, signed 30 November 2023, is the first of its kind between the two countries and will enter into force once the ratification instruments are exchanged. It will apply in Portugal from 1 January of the year following its entry into force and will apply in Australia in respect of withholding taxes from 1 January next following its entry into force, in respect of fringe benefits tax from 1 April next following its entry into force, and in respect...