UAE signs double taxation deal with Kosovo
The UAE government has signed key agreements on avoidance of double taxation and protection and promotion of investment with the Republic of Kosovo.
The signing ceremony took place in the capital Pristina during an official visit of the UAE delegation headed by Younis Haji Al Khoori, the undersecretary of Ministry of Finance (MoF) to the Republic of Kosovo.
The UAE has signed 97 final agreements on avoidance of double taxation on income and 58 agreements on protection and promotion of investment with key economic and trading partners across the globe.
“These agreements support in achieving the UAE’s development goals, diversifying sources of national income and supporting the growth of foreign investments as well as protecting it from any non-trade and political risks related to the transfer of profits and revenues in convertible currency,” stated Al Khoori after signing the double taxation pact with Dr Avdullah Hoti, the minister of Finance of the Republic of Kosovo and protection and promotion of investment deal with Hykmete Bajrami, the Minister for Trade and Industry.
“These also provide full support to companies and individuals from double taxation and added value taxes whether direct or indirect,” he added.
Al Khoori also stressed the UAE’s commitment to strengthen its international relations network to attract foreign investments and increase the trade intercontinental movement.
He later met Isa Mustafa, the Prime Minister of the Republic of Kosovo and Petrit Selimi, the acting foreign affairs minister.
During the meeting, he discussed the key components and achievements of UAE economy in the past few years as the country owns the largest commercial centre and enjoys the second biggest economy in the region.
Al Khoori also highlighted UAE’s experience in the innovation sector, programmes for planning and implementing public budget, as well as public sector strategy and its performance indicators.
“The future projects that the UAE aims to accomplish, such as Expo 2020, provide qualitative investment opportunities for private sector in various economic development fields, primarily in construction, tourism and service sectors,” he added.
At the meeting, Mustafa highlighted investment opportunities across Kosovo particularly in areas of tourism, roads, agriculture, energy and renewable energy.
“We look forward to signing more collaborative agreements with the UAE in fields of studies and research, consolidating joint work, and exploring future investments opportunities in retail and construction fields,” he added.