Speaking this week, the UAE's Minister of State for Financial and Industrial Affairs, Dr Mohammed Khalfan bin Kharbash announced that President His Highness Sheikh Zayed bin Sultan Al Nahyan had signed five decrees ratifying agreements for the avoidance of double taxation.
Following the ratification of the bilateral treaties with Austria, New Zealand, Mozambique, South Korea, and Sri Lanka, the UAE has become a signatory to 43 such agreements, the Finance and Industrial Affairs Minister revealed.
He went on to explain that the agreements in question clarified matters relating to many aspects of taxation, including income tax, property tax, share profits and interest, capital profits and gains, and pensions.
Dr Kharbash welcomed the conclusion of the DTAs, observing that such treaties have contributed to the UAE's reputation as a commercial, financial and tourism hub within the region.
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