September 25, 2021

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Israel and the Emirates have signed a tax agreement to increase investment

Israel and the United Arab Emirates signed a tax agreement aimed at boosting investment on Monday, almost nine months after Israeli Finance Minister Israeli Gaddafi signed on to normalize relations between the two countries.

The minister said on Twitter that the agreement, which would make it possible to avoid double taxation, would in particular “enhance economic ties between the two countries”, which he described as “historic”. It is (essential) for business operations to provide security and favorable conditions, ”he said.

In addition to the provisions for information exchange, non-discrimination and prevention of abuse, the agreement provides investors with lower tax rates, the finance ministry said in a statement. The ministry said the conference had not yet been approved by the Knesset (Israeli parliament) and the government to implement it on January 1, 2022.

Israel and the United Arab Emirates, with the help of the United States, signed normalization agreements last September. In the process, several trade agreements were signed between Israel and the Emirates. The agreement became the third Arab country to establish relations with Israel after Egypt in 1979 and Jordan in 1994. Bahrain, Morocco and Sudan later concluded similar agreements, with the support of former President Donald Trump, the Hebrew state.

These agreements will condemn the “betrayal” on the part of the Arab states by Palestinian leaders – from the secular Fatah of Mahmoud Abbas in the occupied West Bank, to the Islamists in power in the Gaza Strip to Hamas.

Israel and the United Arab Emirates signed a tax agreement aimed at boosting investment on Monday, almost nine months after Israeli Finance Minister Israeli Gaddafi signed on to normalize relations between the two countries.
This tax makes it possible to avoid double taxation, especially in fostering economic ties between …

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