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FINANCIAL NEWS
UAE signs tax deal with Abu Dhabi’s ADGM
13 Jul 2016
(MENAFN) The UAE signed an agreement with Abu Dhabi Global Market (ADGM) on the exchange of information for tax purposes in its premises.
Additionally, the deal confirms both sides commitment to apply international standards and needs on the automatic exchange of information for tax purposes.
Accordingly, the ministry seeks to gain similar deals to ensure application of global standards of transparency.
Moreover, this will help to prevent tax evasion and enhancing tax collection efficiency; the automatic exchange of information is a new standard.
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