Posted on 06/01/21
| News Source: i24
Tax treaty is first since Israel signed Abraham Accords with UAE and Bahrain last year
Israel and the United Arab Emirates (UAE) signed a tax treaty on Monday, Israel's finance ministry said, describing the move as a spur to business development between the countries after they normalized relations last year.
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The UAE finance ministry said in October that it had reached a preliminary agreement with Israel on avoiding double taxation.
The tax convention, once ratified by ministers and parliament this year, will be Israel's 59th and go into effect on Jan. 1, 2022. Read more at i24