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Abu Dhabi: The UAE yesterday signed a double taxation avoidance agreement with the Netherlands that is expected to boost bilateral trade.
Dr Mohammad Khalfan Bin Kharbash, Minister of State for Financial and Industrial Affairs, and Frank Heemskerk, the Dutch foreign trade minister, signed the agreement in Abu Dhabi.
The agreement means that companies will pay tax only in their home country, avoiding double taxation. Tax waiver agreements exempt countries from paying tax on income and capital in both countries.
The minister said the pact would enhance bilateral economic, commercial and tourism relations and would accelerate the flow of investments into the two countries.
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