UAE, Israel working on double tax treaty to encourage investment | Reuters:
The United Arab Emirates and Israel have reached a preliminary agreement on avoiding double taxation, as part of moves to encourage investments between the two countries, the UAE finance ministry said on Thursday.
Israel and the UAE signed a normalisation deal on Sept. 15, forging formal diplomatic ties. Israel ratified the deal in a cabinet vote on Monday and a parliamentary vote on Thursday.
Several commercial agreements have been signed between the two countries since mid-August, when they agreed to normalise relations.
“There is a preliminary agreement between both countries to start negotiations with Israel on Double Taxation Avoidance Agreement soon,” the UAE finance ministry said in a statement, citing undersecretary Younis Haji Al Khoori.
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