UAE, Ireland sign double taxation avoidance deal

An agreement to avoid double taxation on income has been signed between the UAE and Ireland.

Director-General of the Ministry of Finance Younis Haji Al Khoori signed the agreement on behalf of the UAE, while the Ambassador of Ireland signed on behalf of his country.

Commenting on the signing of agreement, Al Khoori said: “This agreement is one of the most important pillars that contribute to developing and strengthening co-operation and partnership between the two countries.

The agreement seeks to create a suitable investment environment attracting governmental investment and sovereign funds, in addition to encouraging private sector investment in both countries.

He added that the agreement would also increase the volume of trade exchange and tourism.

Al Khoori said the agreement comes after the G20 meeting in Toronto in June. The group urged not to impose new barriers against investment and trade in goods, in addition to minimising all impacts on trade and investment caused by internal policy measures, including fiscal policy. This will lead to enhancing economic growth.

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