A double taxation treaty makes it possible to account for taxes paid in one of the two countries with taxes payable in the other, thus avoiding double taxation. Estonia signs double taxation treaties to 59 of the world`s countries. Some forms of income are exempt or are entitled to reduced rates. These include royalties, dividends and capital gains. There are currently 60 effective double taxation treaties concluded by Estonia: Albania, Armenia, Austria, Azerbaijan, Bahrain, Belarus, Belgium, Bulgaria, Canada, Czech Republic, China, Croatia, Cyprus, Denmark, Finland, France, Georgia, Germany, Greece, Hungary, Hong Kong (SAR), Iceland, India, Ireland, Israel, Isle of Man, Italy, Japan, Jersey, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Luxembourg, Malta, Moldova, Mexico, Netherlands, Zedonie, Norway, Poland, Portugal, Romania, Serbia, Singapore, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Thailand, Turkey, Turkmenistan, United Kingdom, United States, Ukraine and Uzbekistan, United Arab Emirates, South Korea and Vietnam. . . .