By IANS/WAM,
Abu Dhabi : The UAE finance ministry Monday said it has signed an agreement with Venezuela to avoid double taxation and tax evasion on income and capital.
The agreement is in line with the UAE’s efforts to strengthen financial relations with foreign countries, the ministry said.
This is the first such agreement signed by the UAE with a Latin American country.
The agreement covers all types of taxes on income and capital, mainly taxes imposed on total income or on elements of income, including taxes on gains from transferring the ownership of movable and immovable properties.
It covers taxes on investments in public and private sectors and simplifies financial and tax benefits of air and sea carriers.
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