MoF, Tanzania sign avoidance of double taxation agreement

MoF, Tanzania sign avoidance of double taxation agreement

As part of its endeavours to strengthen cooperation frameworks in tax matters, protect taxpayers from double taxation, and avoid impeding the flow of trade and investment, the Ministry of Finance (MoF) recently signed an agreement for the Avoidance of Double Taxation and Prevention of Tax Evasion with respect to taxes on income with Tanzania. Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, signed the agreement on behalf of the UAE, while Dr Mwigulu Lameck Nchemba, Minister of Finance and Planning of the Republic of Tanzania, signed it on behalf of Tanzania. The agreement was signed at the ministry’s headquarters in Dubai, in the presence of Abdullah Ahmed Al Obaidly, Director of Relations and International Financial Organisations at the MoF; and officials from both parties. Mohamed Bin Hadi Al Hussaini stressed on the importance of consolidating the financial, economic, and investment relations between the UAE and Tanzania. This comes in line with both countries’ efforts to boost cooperation in tax fields, increase investment opportunities, encourage trade exchange, and promote development goals by diversifying sources of national income and providing full protection for goods and services. He said: “The Ministry of Finance will continue to strengthen trade and investment