Malta's Minister of Finance, John Dalli this week urged businesses and investors located in the United Arab Emirates to take advantage of the tax benefits offered by Malta's increasingly close relationship with European Union member states, according to the Gulf News Online.
Following December's formal invitation to join the EU in 2004, according to Mr Dalli, Malta is in a better position than ever before to act as a gateway to Europe for UAE companies, and additionally provides a well-established and competitive location from which to do international business.
'Financial institutions and other companies in the UAE may take advantage of the tax environment and the tax agreements with Europe, which will offer financial institutions and other companies operating from Malta less tax burden compared to other centres in Europe,' Gulf News Online yesterday quoted Mr Dalli as arguing.
This follows last month's announcement that a high-level delegation of Maltese officials visited the UAE in order to discuss the creation of double taxation avoidance treaty between the two jurisdictions, a measure likely to further increase bilateral trade and investment.
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