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Egypt, UAE Sign supplemental Agreement to Avoid Double Taxation, Tax Evasion

Sun 11 Feb 2024 | 09:00 PM
Taarek Refaat

Minister of Finance Mohamed Maait said that the supplementary agreement for the Protocol to avoid double taxation and prevent evasion of income tax, which was signed with the Emirati side on the sidelines of its participation in the world Governments Summit.

The Minister added - in a statement Sunday - that this agreement aims to enhance opportunities for joint investment cooperation in light of the global challenges and the ability to deal flexibly withthe negative repercussions and prolonged disruptions in supply chains, which require stimulating investment, deepening the role of the private sector and increasing its contributions to economic activity.

Maait continued, saying, "We are keen to provide all facilities and overcome any tax or customs obstacles that may face Emirati investors and companies in Egypt, in a way that contributes to expanding their business base, investment and production activities, and increasing trade exchange between the two countries."