Montenegro and the United Arab Emirates (UAE) have concluded their latest set of talks on the completion of a double tax agreement (DTA) between the two countries, agreeing also to take all the necessary steps towards its possible signing at the earliest opportunity.
Held over two days, and attended by delegations from both countries, the agreement, once reached, will affect taxation on income and assets.
The Montenegrin group was led by the Assistant Minister of Finance, Biljana Scekic, with Nasr Hamid Mohamed Abdel Gadi, President of the International Economic Relations division at the Ministry of Finance, acting on behalf of the UAE.
When signed and ratified, the deal will, according to the Montenegrin government, eliminate the double taxation of Montenegrin and UAE residents, remove tax barriers to foreign investment, and implement the principle of the equal tax treatment of natural and legal persons.
It will also seek to promote promote scientific, cultural and sports cooperation, as well as political relations between the two countries.
Held over two days, and attended by delegations from both countries, the agreement, once reached, will affect taxation on income and assets.
The Montenegrin group was led by the Assistant Minister of Finance, Biljana Scekic, with Nasr Hamid Mohamed Abdel Gadi, President of the International Economic Relations division at the Ministry of Finance, acting on behalf of the UAE.
When signed and ratified, the deal will, according to the Montenegrin government, eliminate the double taxation of Montenegrin and UAE residents, remove tax barriers to foreign investment, and implement the principle of the equal tax treatment of natural and legal persons.
It will also seek to promote promote scientific, cultural and sports cooperation, as well as political relations between the two countries.
