UAE - Mubasher: The UAE has signed a tax treaty agreement with Israel to strengthen the economic ties between the two countries and expand business activities, Israeli Minister of Finance, Israel Katz, announced on his official Twitter account.
The tax treaty is the first convention reached following Israel's normalising relations with the UAE and Bahrain last year, according to Reuters.
The treaty will avoid double taxation with the UAE and will cap tax deductions, dividends, and royalties.
The double taxation agreement with the UAE, which we signed today, is another significant milestone in the peace treaty and the normaliSation process between Israel and the countries in the circle of peace. This reflects the deep commitment we have developed in such a short time," Israeli Foreign Minister, Gabi Ashkenazi, remarked.
