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Seychelles And Thailand Sign Double Tax Treaty

by Lisa Ugur, Tax-news.com, London

30 April 2001

At the end of last week, the Seychelles and Thailand signed an agreement to avoid double taxation. The agreement was signed by the Seychelles ambassador to Malaysia, Sylvestre Radeegonde, and the Thai foreign minister, Surakiart Sathirathai.

Mr Surakiart said Pongpol Adireksarn, Thailand's deputy prime minister, had held preliminary talks on co-operation in deep-sea fishing with the Seychelles when he was agriculture minister in the previous Chuan Leekpai government. The agreement on avoiding double taxation would benefit small and medium-sized businesses in Thailand that exported handicrafts to the Seychelles, Mr Surakiart said. At the same time, the Seychelles wants Thais to invest in the island's hotel industry.

The Seychelles government sees such treaties as being an important part of its scheme to develop as a key financial hub in the Indian Ocean, and is actively negotiating more treaties with a number of its trading partners.

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