The UAE and Luxembourg have inked an accord in Dubai to prevent double taxation, in a bid to boost common investments. According to Gulf News, Mohammad Khalfan Bin Kharbash, UAE's Minister of State for Financial and Industrial Affairs and Jeannot Krecke, Luxembourg's Minister of Economy and Foreign Trade, attended the ceremony.
Bin Kharbash stated the agreement gives UAE investors multiple tax privileges, including business profits, and total tax waivers on the income earned on aircraft owned by the UAE.
