The results of the 2024 Tax Treaty Survey are presented below.
#1 Treaty Priority Countries
NFTC member companies who responded to the survey (“respondents”) ranked one country – Brazil – as the clear priority for the most number of respondents. The next tranche of countries were closely clustered together.
The countries identified as next most significant to respondents were: Ireland, Israel, Saudi Arabia, Switzerland, Taiwan, and Malaysia. The negotiation items listed as most significant for each country were:
Brazil was also the clear priority for respondents in the 2023 NFTC Tax Treaty Survey. Taiwan, Saudi Arabia, and Switzerland maintain their 2023 position in the next tranche of significant country priorities, while Ireland, Israel, and Malaysia are new additions in 2024. Singapore dropped out of this grouping of the #1 priority, but was still overall relevant to respondents.
Overall Treaty Priority Countries
After evaluating the overall top priority for respondents, we aggregated the results regardless of rank. Atop the list of highest overall priority countries were Brazil, Saudi Arabia, and Singapore. These countries saw the highest combination of overall votes as well as being ranked first or second most important country by respondents. Next was India, in its own tranche, followed by a grouping of Ireland, Israel, Switzerland, and Taiwan. The final tranche featured Argentina, Australia, China, and the UK.
In total, respondents requested treaties with 32 countries.
Items that were selected as most important for these countries were:
Compared to 2023 results, Brazil and Singapore maintained their position as top overall priority countries, with Saudi Arabia replacing Taiwan in the top tranche. India remains in its own tranche. The third and fourth tranches shuffled more notably. Hungary, Colombia, and Mexico are out, while Argentina and China are in. The UK maintained its 2023 position in the final tranche.
An infographic of the most requested countries can be found here.