An accord on the exchange of ratified documents on the avoidance of double taxation on income was signed in Abu Dhabi on Saturday between the UAE and Syrian governments, according to Emirates News Agency.
Saif Saeed bin Sa’ed, UAE foreign Ministry Under Secretary and Ahmad Al Hallaq, Syrian Ambassador signed the agreement on behalf of their countries.
The agreement, which takes effect as of Saturday, exempts citizens from the UAE and Syria from taxation on incomes from properties, agriculture and profits made on any project, which attracts taxation. However, profits from ship, airplane and international transport operations will attract taxation.
Dr. Mohammed Khalfan bin Kharbash, Minister of State for Financial and Industrial Affairs and Mohammed Khalid Al Muhaini, Syrian Finance Minister signed the agreement way back in January 2000 in Damascus, in the presence of officials from both countries, including members of the UAE Foreign Ministry. (Albawaba.com)
