Israel and UAE sign tax treaty in latest normalization step

Israel and UAE sign tax treaty in latest normalization step

Published 31 May,2021 via Bloomberg Markets - Israel and the United Arab Emirates have signed a double taxation treaty, Israel's Finance Ministry said on Monday, the latest move to normalize ties less than a year after the countries signed a historic accord.

The agreement will accelerate the development of economic relations and contribute to prosperity in both countries, Israeli Finance Minister Israel Katz said on Twitter.

The agreement adds to a string of accords signed between the two countries in what may be a sign that this month's 11-day conflict with Hamas in Gaza won't be a big setback for efforts to build ties. There was no immediate comment from the UAE, which faced criticism online for its normalization deal during the fighting.