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Oman Ratifies Netherlands DTA

by Lorys Charalambous,, Cyprus

09 December 2009

The convention for the avoidance of double taxation and fiscal evasion with respect to taxes on income, signed between Oman and the Netherlands on October 5, 2009, has now been ratified.

According to a statement from the Omani government, Sultan Qaboos bin Said ratified the agreement with Royal Decree No. 68/2009 on December 6.

The convention will boost economic activity between the two countries by removing barriers to trade and investment. The text of the agreement allocates taxing rights to ensure that those entrepreneurs carrying out activities in the two countries are not subject to taxation twice.

The agreement also contains tax information exchange protocols allowing the countries’ tax authorities to request tax information in the investigation of tax crimes, or in civil tax matters.

Also on December 6, two agreements between Oman and Uzbekistan were ratified, one a trade and economic cooperation agreement, and the other establishing the basis of cooperation and relations between the two countries.

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