Since its inception, the United Arab Emirates has established an exceptional regional and international financial position through its proactive pursuit of partnerships that strategically enhance and strengthen the nation’s foreign relations.
2019 marks three decades since the Ministry of Finance of the UAE was authorised to sign and undertake Double Taxation Avoidance (DTA) Agreements and Bilateral Investment Treaties (BITs). The UAE’s first DTA was signed with France in 1989. The first BIT was signed in 1991, also with France and then Malaysia.
Today, the UAE’s vast network of agreements extends worldwide.
The Ministry of Finance is responsible for building strategic financial partnerships with fellow Arab and foreign countries. By negotiating bilateral agreements on double taxation and investment partnerships, the Ministry has contributed to the creation of a highly attractive investment climate that promotes sustainable development and diversified sources of national income.
Prestigious event to mark the UAE’s outstanding record of international trade success
The far-reaching vision and ambition of the leaders of the UAE has created a sturdy economy. The country is world-renowned for its lenient taxation system, which exempts most businesses from paying tax, attracting investors and entrepreneurs from other countries and contributing to prosperity and economic stability. These substantial advantages have had a positive impact and mutual benefits for all parties.
Over a matter of just three decades, and through some of the world’s most challenging economic times, the UAE has steadily extended its Double Taxation Agreement network and become a thriving hub of investment and growth opportunity.
UAE joins the World Bank Group’s International Centre for Settlement of Investment Disputes (ICSID)
The Ministry of Finance is authorized to sign and undertake Double Tax Agreements and Bilateral Investment Treaties
Limited Tax and Investment Agreements signed with Singapore and India
First DTA signed with France
First BITs signed with France and Malaysia
MoF represents the UAE at the OECD to support the adoption of international tax provisions and facilitate development of DTA network in Middle East and North Africa
UAE joins the Global Forum on Transparency and Exchange of Information for Tax Purposes
Landmark DTA with Saudi Arabia – the first of its kind between two GCC nations
UAE’s DTA network ranks 1st in Middle East and North Africa
UAE now ranks among the top major global financial and commercial centres in terms of DTA and BIT agreements
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