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Montenegro, UAE Agree DTA

by Ulrika Lomas,, Brussels

17 May 2011

Montenegro and the United Arab Emirates (UAE) have concluded their latest set of talks on the completion of a double tax agreement (DTA) between the two countries, agreeing also to take all the necessary steps towards its signing at the earliest opportunity.

The talks were held over two days, and were attended by delegations from both countries. The agreement, once reached, will affect taxation on income and assets.

The Montenegrin group was led by the Assistant Minister of Finance, Biljana Scekic, with Nasr Hamid Mohamed Abdel Gadi, President of the International Economic Relations division at the Ministry of Finance, acting on behalf of the UAE.

When signed and ratified, the deal will, according to the Montenegrin government, eliminate the double taxation of Montenegrin and UAE residents, remove tax barriers to foreign investment, and implement the principle of the equal tax treatment of natural and legal persons.

It will also seek to promote promote scientific, cultural and sports cooperation, as well as political relations between the two countries.

TAGS: United Arab Emirates | tax | double tax agreement (DTA) | Montenegro | agreements

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