If this proposal is acceptable to the Government of the Kingdom of Denmark, I have the honour of proposing that this communication and the response of its excellence be seen as an agreement between the two governments in this matter, which will come into force at the same time as this protocol comes into force. Bulgaria Bulgarian tax agreements and international agreements They will not be taxed on savings or assets that you will bring from abroad when you move to Denmark, but you will be taxed on savings income and/or dividends. If Denmark has a double taxation agreement with the country you are leaving, your Danish tax may be reduced. The removal of the double taxation article is updated in accordance with changes to other provisions of the protocol (Article IX). In order to avoid double taxation of income, Denmark has concluded with a large number of DTT countries. All tax treaties contain provisions relating to the exchange of tax information and specific EU rules apply. Double taxation can also be linked to inheritance tax. To remedy this situation, Denmark has entered into contracts in this regard with the other Scandinavian countries, Germany, Italy, Switzerland and the United States. The countries with which Denmark currently has TTDs and where the contract contains a pay clause are as follows: when a worker based in the United Kingdom works abroad and is subject to a tax obligation with respect to overseas, the normal method of using credits in the event of double taxation is to deduct overseas tax from UK tax. Overall, the UK tax payable is reduced by the amount of foreign tax. (3) The term “dividends” used in this article is the proceeds of shares or other rights that are not receivables that participate in profits, and income from other corporate rights that are subject to the same tax as the income of the shares and are considered residents of the corporation, under the laws of the state in which the company distributing the distribution is subject to the same tax treatment as the income of the shares and which is considered to be a resident of the corporation, as a dividend or distribution of a company.