“There is a preliminary agreement between both countries to start negotiations with Israel on Double Taxation Avoidance Agreement soon,” the UAE
finance ministry said in a statement, citing undersecretary Younis Haji Al Khoori.
“The Ministry of Finance is keen to expand its international
relations network by signing double taxation avoidance agreements and agreements to protect and encourage investments,” Khoori said.
Such tax treaties help prevent similar taxes being imposed by two countries on the same taxpayer, and are aimed at encouraging the exchange of goods, services and capital.
Ahead of Thursday’s ratification vote in Israel’s parliament, Foreign Minister Gabi Ashkenazi said Abu Dhabi was expected to send its first official delegation to Israel next week.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.