Fiji, UAE sign double tax avoidance deal
Fiji and the United Arab Emirates (UAE), where Fiji recently set up an embassy (as reported recently in Pacific Periscope), have signed a double tax avoidance treaty in Abu Dhabi this week.<!--more--> <a href="https://pacifictradeinvest.com/PTI/wp-content/uploads/2012/01/Fiji-flag.jpg"><img class="aligncenter size-full wp-image-2403" title="Fiji-flag" src="https://pacifictradeinvest.com/PTI/wp-content/uploads/2012/01/Fiji-flag.jpg" alt="" width="138" height="104" /></a>The agreement aims to promote economic ties by encouraging trade between the two countries.
Double taxation agreements also help diversify the sources of national income for participating countries by increasing the volume of inward investment.
While Permanent Secretary for Finance Filimone Waqabaca signed on behalf of the Fiji, Undersecretary of the Ministry of Finance Younis Haji Al Khouri signed for the UAE. The deal contributes toward the avoidance of direct or indirect double taxation.
On signing the agreement Younis Haji Al Khouri said, “These agreements have a positive effect on protecting and guaranteeing the investment, trade and economic cooperation between the countries.”
The UAE has signed some 63 agreements on double taxation in recent years to strengthen its regional and international role in creating an investment climate for both public and private sectors.