On 26 February 2015, officials from Senegal and the U.K. signed an income and capital tax treaty. The treaty is the first of its kind between the two countries. Taxes Covered The treaty covers Senegalese corporate income tax, minimum corporate tax, individual income tax, and capital gains tax on developed and undeveloped land. It covers U.K. income tax, corporation tax, and capital gains tax. Residence If a company is considered resident in both Contracting States, the competent authorities will determine the company's residence for the purpose of the treaty through mutual agreement. If the authorities cannot reach mutual agreement, the...