Montenegro and UAE agree on double taxation agreement

Representatives of Ministries of Finance of Montenegro and the United Arab Emirates on Tuesday, initialed the text of the Treaty on avoidance of double taxation between the two countries, with respect to taxes on income and assets.

Delegation of Montenegro and the UAE have agreed on the necessity of taking all actions as soon as possible signing, and then its ratification of the Contracting States.

Underlying contract eliminates the double taxation of income of residents in Montenegro and the UAE, remove tax barriers to foreign investment, implementing the principle of equal tax treatment of natural and legal persons, and promote scientific, cultural and sports cooperation, as well as political relations between the Contracting States. In this way the conditions for attracting investments.

Another round of talks between delegations of the United Arab Emirates and Montenegro began in Monday, the 9th May, and was completed today. Montenegrin delegation to the talks was headed by Assistant Minister of Finance, Biljana Scekic, a delegation of UAE President for International Economic Relations Division Ministry of Finance of the country, Nasr Hamid Mohamed Abdel Gadir.