Uae Double Taxation Agreements

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The UAE has 123 double taxation agreements in force or pending that benefit expatriates and businesses “We have covered almost 120 countries and are still expanding by signing more agreements with South American and a few other African countries and cooperating with the Nordic countries,” Younis Al Khoori, undersecretary of state at the VAE Ministry of Finance, told The National. While most dubai agreements to avoid double taxation are customized, they contain provisions on the fact that the United Arab Emirates has 100 double taxation agreements with most of its trading partners. “For example, between Austria and the United Arab Emirates, there is a provision that your VaE income is exempt from Austrian income tax,” says Azhari, an expert in international tax law. “The German Double Taxation Convention stipulates that any income tax you pay in the United Arab Emirates is deducted from German income tax, so you pay the full income tax in Germany.” Ashkenazi said agreements would be underway to allow Israeli airlines to travel directly to the United Arab Emirates and open new markets for Israeli technology and create official Israeli representations in the Gulf. To implement the BEPS measures, the United Arab Emirates has signed a multilateral instrument that facilitates the modification of its existing treaties. “It allows the UAE to change all tax treaties through an agreement,” says Khan of the law firm Al Tamimi. DUBAI/JERUSALEM, Oct 15 (Reuters) – The United Arab Emirates and Israel have reached a tentative agreement on preventing double taxation as part of measures to encourage investment between the two countries, the U.S. Ministry of Finance said on Thursday. “Because the UAE doesn`t have a lot of taxes, companies in the United Arab Emirates have more advantages [of double taxation agreements],” says Shiraz Khan, who heads tax practices at the law firm Al Tamimi in the region.

“This may mean that they are subject to a lower withholding rate, and that is only because of the terms of the contract.” “The United States, in particular, receives special treatment for the UAE government and double taxation,” Said Al Khoori. “We didn`t negotiate anything, but we worked closely with the U.S. Treasury on the possibility of engaging in negotiations.” “The agreements can also allow for an exemption from foreign taxation and certain obligations to comply with foreign taxes in other countries,” says Jochem Rossel, partner and international tax services provider at PwC Middle East. “I hope that next week we can sign some (of these agreements) and that we will soon see tourists and businessmen visiting both countries and visiting the streets of Abu Dhabi and the beach, as well as in Jerusalem, our capital, the beaches of Tel Aviv and throughout the State of Israel.” There are 21 outstanding double taxation agreements, 12 signed but not yet ratified and nine currently under negotiation.

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