UAE To Expand Double Tax Agreement Network
by Lorys Charalambous, Lowtax.net, Cyprus
15 May, 2015
The Ministry of Finance of the United Arab Emirates (UAE) recently organized a consultative meeting to discuss plans to expand the country's network of double taxation avoidance agreements and agreements to promote investment.
Participants of the meeting shared their opinions about potential agreements and listed them in terms of priority.
Commenting on the meeting, Younis Haji Al Khoori, Undersecretary of the Finance Ministry, stressed the importance of working closely with the UAE's foreign investment partners. He highlighted that collaboration is key to expanding the UAE's investor base across the world and strengthening its international trade ties.
The Ministry of Finance said it has held talks on double taxation avoidance agreements with 18 new countries so far in 2015. The Ministry plans to hold negotiations with 21 countries on double taxation avoidance agreements this year and in 2016 aims to sign double taxation avoidance agreements with 15 countries.
Currently the UAE has 83 double taxation avoidance agreements in place, including 34 with European countries, 10 with Arab countries, 25 with Asian countries, eight with African countries, five with Latin American countries, and one with a North American country (Canada).
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