UAE, Venezuela sign taxation agreement

08 Jun 2010

(MENAFN) The UAE Ministry of Finance said that it has signed an agreement of double taxation avoidance and tax evasion prevention on income and capital with the Bolivarian Republic of Venezuela, WAM reported.

The ministry said in a statement that the agreement is in line with UAE?s efforts to strengthen financial relations with various foreign countries, and supporting investment promotion and economic development and cooperation.

This is the first such agreement signed by the UAE with a Latin American country, and signals the start of negotiations with other nations in the continent.

It is worth mentioning that the agreement covers all types of taxes on income and capital.

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