UAE signs tax treaty with Israel
The United Arab Emirates signed a tax treaty with Israel on 31 May in a follow-up move to normalising relations in 2020.
A statement by Israel s Finance Ministry said the agreement was aimed at bolstering economic ties between the two countries as they pursue normalisation by avoiding double taxation.
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The treaty provides certainty and favourable conditions for business activity and will strengthen economic ties.
Under the agreement, tax deductions, dividends and royalties are capped.
Israeli Foreign Minister Gabi Ashkenazi said the treaty will enable significant promotion of investment and trade that will help both countries economies.
Israel and the United Arab Emirates signed a tax treaty on Monday, Israel's Finance Ministry said, describing the move as a spur to business development between the countries after they normalised relations last year.
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