International Business Opportunities

United Arab Emirates and Netherlands signed yesterday in Abu Dhabi a double taxation avoidance agreement.

The agreement means that companies will pay tax only in their home country, avoiding double taxation. Tax waiver agreements exempt countries from paying tax on income and capital in both countries.

The minister said the pact would enhance bilateral economic, commercial and tourism relations and would accelerate the flow of investments into the two countries.
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A EU-Gulf Cooperation Council (GCC) summit will beginon Tuesday May 8, in Riyadh, Saudi Arabia.

The summit could lead to a free trade deal between EU and the GCC - which includes Saudi Arabia, Bahrein, United Arab Emirates, Kuwait, Omand and Qatar.

The two blocs had started to negotiate a free trade agreement in 2002, however they failed to agree on a commons set of rules regarding investments and market access.