UAE, Benin sign deal to avoid double taxation

In line with efforts to promote investments between UAE and Republic of Benin and to facilitate the movement of capital and provide protection from all commercial risk, the UAE’s Ministry of Finance (MoF) has signed two agreements for the avoidance of double taxation on income and protection and promotion of investments with the Republic of Benin.

The signing ceremony took place at the headquarters of the Ministry in Abu Dhabi. Both agreements were signed by Younis Haji Khouri, Undersecretary of MoF, and Isa Moussa Toure, Ambassador of Benin in the UAE.

Al Khouri said: “Conventions on the avoidance of double taxation on income and the protection and promotion of investments represent the most important legal instruments for the protection of holders.  They facilitate the movement of capital and offer protection from all non-commercial risks.”

He said: “The UAE has signed a number of agreements with its strategic partners around the world which have led the UAE to become a leader in the area of double taxation agreements, ranking 24th globally. The UAE is the first country to be a non-member of the Organisation for Economic Co-operation and Development to have a strategic relationship and partnership with the organisation, positioning our country as a serious regional hub able to foster dialogue in MENA on tax issues. The implementation of these tax conventions, which are in accordance with international standards, allow nations across the region to secure fair shares of the tax base and encourage capital flow.”

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