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Publish Date : 05-Jul-2013

On the sidelines of the GCC-EU Ministerial meeting in Manama, Bahrain, the UAE and the Republic of Lithuania have signed an agreement concerning the avoidance of double taxation on income and prevention of fiscal evasion with respect to income tax.

The agreement was signed on behalf of the UAE by Dr. Anwar Mohammed Gargash, Minister of State for Foreign Affairs, and by Lithuanian Foreign Minister, Linas Antanas Linkevicius, on behave of his government.

The signing of the double taxation avoidance agreement comes from a desire to strengthen financial ties of the UAE with various countries around the world, in support of global economic openness through the free movement of factors of production, and increase investment opportunities available while encouraging import and export operations.

The agreement aims to enhance the investment climate and economic development between the two countries as well as to promote the development objectives of the UAE.

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