FINANCIAL NEWS

UAE, Palestine in double taxation avoidance deal

26 Sep 2012

(MENAFN) The UAE has recently inked an agreement to avoid double taxation on income with Palestine, official news agency WAM reported.

Double taxation agreements help strengthen the economy by diversifying the sources of national income and increasing the volume of inward investment.

They also provide a stable tax environment for foreign investors, leading to the enhancement of international competitiveness of the UAE economy.

The agreement was signed by Younis Haji Al Khouri, Undersecretary of the UAE’s Ministry of Finance, and Dr Khairi Al Oraidi, Ambassador of Palestine to the UAE.

Both countries seek to support the development of economic relations and improve the investment climate between the two economies and increase bilateral trade.

The UAE has a total of 64 agreements to avoid double taxation, and all are adopted and under implementation.

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