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Sunday, June 23, 2024

UAE, Japan Sign Treaty on Taxation

UAE, Japan Sign Treaty on Taxation(Tokyo) – The UAE and Japan have signed an initial agreement to avoid double taxation on income. The agreement was signed at the Japanese Ministry of Finance in Tokyo, on behalf of the UAE, by Khalid Ali Al Bustani, Assistant Undersecretary of International Financial Relations Sector of the Ministry of Finance, meanwhile, the Japanese Director of the Middle East and Africa, signed it on behalf of Japan.
The agreement aims to identify all the recipients of tax and financial benefits that will be covered by the main agreement, including federal government institutions and local and sovereign funds, in addition to Emiratis and private sector institutions that own investments in Japan.
It is worth mentioning that the UAE has signed and adopted 66 agreements to avoid double taxation. These agreements included the most important trading partners of the UAE in order to strengthen its regional and international role through creating a distinctive investment climate of public and private sectors and developing of the air transport sector.

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