posted on 02/08/2012: 962 views
In line with its continuous efforts to enhance its financial and economic relations with other countries and to ensure its sustainable growth, the UAE, represented by the Ministry of Finance (MoF), has signed an initial agreement with the Republic of Fiji to eliminate double taxation on income.
The agreement was signed at MoF's premises in Abu Dhabi by HE Younis Haji Al Khouri, Undersecretary of (MOF) on behalf of the UAE, whilst Mr. Filimone Waqabaca, Permanent Secretary for Finance, signed on behalf of the Republic of Fiji. The delegation recommended that the final ratification signature of the Agreement should be signed by the Prime Minister and Minister for Finance of Fiji, Commodore Voreqe Bainimarama, in September 2012.
The agreement reflects the UAE's interest to promote its trade, investment and tourism relationships with the Republic of Fiji. These trade and investment opportunities include mining for gold, silver, copper and other high-value minerals that are in global demand. The key beneficiaries of this agreement will be local investors from the UAE and Fijian businesses operating in this field.
To date, the UAE has signed 63 agreements on double taxation, including with most of its trading partners in the European Union and Commonwealth of Independent States, in addition to selected countries in the Middle East and North Africa, South and East Asia and sub-Saharan Africa. – Emirates News Agency, WAM
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