UAE, Panama sign tax agreement

Tokyo, Oct 13 (IANS/WAM) The UAE and Panama Saturday signed here an agreement on avoidance of double taxation on income to boost bilateral trade.

Obaid Humaid Al Tayer, UAE state minister for financial affairs, and the Panama's Minister of Finance signed on behalf of his country.signed on behalf of the UAE, while

The deal reflects UAE's keenness on bolstering financial relations with South American nations. The agreement is the first of its kind between Panama and an Arab country.

Al Tayer said: "The deal will alleviate the burden of taxations on the investments of private sector by 75 percent."

--IANS/WAM

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