São Paulo – The United Arab Emirates and Argentina signed this Thursday (3) an agreement to avoid double taxation, reported the Emirates News Agency (WAM). The treaty was signed by UAE’s minister of Financial Affairs, Obaid Humaid Al Tayer, and by Argentina’s vice-president, Gabriela Michetti, who is in a visit to the Middle East country.
According to WAM, Al Tayer said that the agreement will help increase trade and investment opportunities between the two countries. This type of treaty prevents taxes from being levied on investments on both ends.
“This agreement, the seventh of its kind with a country from Latin America and the Caribbean, falls within the ministry’s effort to bolster economic, trade and investment co-operation with other countries, creating favorable conditions for investment and economic development and ensure protection of investment”, said the minister, as reported by WAM.
He said the country has already signed treaties of this type with other Latin American countries, such as Mexico, Venezuela, Panama, Chile, Uruguay and Barbados. In all, the UAE has 103 anti-double taxation agreements with other countries.
*Translated by Sérgio Kakitani
