Focus on international tax treaties
Abu Dhabi, November 24, 2013
Representatives from various Mena countries attended a workshop on international tax avoidance and ways to maximise the use of tax treaties in Ajman.
Based on the strategic partnership between the UAE and the Organisation for Economic Cooperation and Development (OECD) and in line with the extension of the memorandum of understanding (MoU) signed between the two parties on international tax treaties in the third period between 2013 and 2015, the Ministry of Finance (MoF) organised the workshop.
The economic, land and property and free zones departments of the Ministry of Foreign Affairs, in addition to representatives from Etihad Airways and TAQA attended the workshop on behalf of the UAE.
The workshop aimed at providing countries in the Mena regions with the technical support required in regards to tax agreements and international tax as well as to stay informed about the latest developments in tax policy and the best tax practices, said a statement.
Khalid Ali Al Bustani, assistant undersecretary of international financial relations sector at MoF, said: “This workshop reflects the ministry’s commitment to ensure best practices in various areas of government financial work, including tax, are being applied at all times.
“MoF will continue to strengthen the UAE’s position in terms of tax cooperation by working alongside OECD in order to enhance the region’s ability to obtain the benefits of international tax treaties linked to it.”
The workshop covered a range of topics including the practices used by some individuals and institutions in regards to cross- border tax evasion, how to benefit from tax agreements in order to reduce the use of these practices and prosecution, reviewing the actions taken by the governments of both countries in terms of their own local law, taxation agreements and the administrative systems used to control tax evasion, as well as a review of cases of improper use of tax agreements. - TradeArabia News Service