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UAE cabinet approves tax deals with Croatia, Moldova

UAE cabinet approves tax deals with Croatia, Moldova

DUBAI: The United Arab Emirates Cabinet on January 7, 2018, approved two double tax agreements concluded by the territory in 2017 with Moldova and Croatia.

Double tax agreements seek to facilitate trade and investment between two or more countries by setting out the taxing rights of the territories involved, to ensure that the same income is not taxed twice.

The agreement between the UAE and Moldova provides that host state withholding tax – that is, tax at source – should, subject to the conditions set out in the treaty, not exceed five percent for dividends income and six percent for interest and royalties income.

The Croatia-UAE double tax agreement meanwhile caps withholding tax on dividends, interest, and royalties income at five percent.