Tax talks end
Source: FIJI REVENUE AND CUSTOMS AUTHORITY
A Fijian delegation met in Abu Dhabi with the Ministry of Finance officials of the United Arab Emirates Government.
The negotiation meeting, which was held from July, 24 to 26, successfully concluded an agreement between the Government of the United Arab Emirates and the Government of the Republic of Fiji for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income.
The United Arab Emirates delegation was led by Dr Hamid Qadir, the economic expert in the Ministry of Finance, whilst the Fijian delegation was headed by Filimone Waqabaca, Permanent Secretary for Finance.
A copy of the agreed text of the Agreement was initialed by the heads of the two delegations.
In thanking the hosts following the initialing of the agreed text, Mr Waqabaca said this was a historic occasion for both countries for two reasons, namely:
l It cements the mutual economic relations that will now develop and grow between the countries; and,
l Fiji now becomes the first country in the Pacific Island region to sign a Double Taxation Agreement (DTA) with United Arab Emirates and likewise, United Arab Emirates is the first country amongst the Gulf Confederation of Countries that Fiji has signed a DTA with.
“Certainly, this will open opportunities for the private sector and government of our countries to take advantage of the provisions in the Agreement to increase investment and job creation in our countries that will benefit our people,” Mr Waqabaca said.
Dr Qadir said: “The UAE authorities look forward to a fruitful and long lasting relationship with the Government of Fiji and the agreement is a positive beginning.”
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