UNITED ARAB EMIRATES – UAE and Japan sign agreement to avoid taxation
THE United Arab Emirates, represented by the Ministry of Finance recently signed an initial agreement with Japan to avoid double taxation on income at the Ministry of Finance – Japan in Tokyo. The Ministry of Foreign Affairs in the UAE and Abu Dhabi Investment Authority (ADIA) attended the agreement signing in the presence of the UAE Ambassador to Japan.
On behalf of the UAE, H.E. Khalid Ali Al Bustani, Assistant Undersecretary of International Financial Relations Sector of MoF, signed the agreement, whist the Japanese Director of the Middle East and Africa, who is responsible of managing agreements to avoid double taxation, signed it on behalf of Japan.
The agreement aims to identify all the recipients of tax and financial benefits that will be covered by the main agreement, including federal government institutions and local and sovereign funds, in addition to UAE nationals and private sector institutions that own investments in Japan.
This agreement also exempts national airlines from taxes, as well as any other airlines based in the UAE.
