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Dubai /Â WAM
The Ministry of Finance (MoF) in collaboration with the Organisation for Economic Cooperation and Development (OECD) is currently holding a workshop entitled, “Practical Application of Recent Tax Treaty Developments”, from the December 19-21 in Dubai.
Monday’s session was attended by a number of international experts and specialists from economic, tax and exchange of information fields, including Indonesia, Morocco, Kuwait, Saudi Arabia, Bahrain, Thailand, Romania, Uzbekistan, Uganda, Kosovo and Vietnam. Attendees also included representatives from the Gulf Cooperation Council, Ministry of Economy, MoE, UAE Central Bank, IPIC, Etihad Airways, Global Tax Services and Ernst and Young.
Khalid Al Bustani, Assistant Under-Secretary for International Financial Relations at the MoF, stressed the ministry’s commitment in managing the implementation of the regional cooperation initiative by providing a series of workshops on international taxes to review the importance of international tax agreements and procedures for the automatic exchange of information.
Al Bustani said, “The UAE enjoys a strategic relations with OECD, reflected by the signing of an extended MoU on international tax agreements for a fourth period 2016-2018. The MoU stipulates the need to provide technical assistance to tax agreements and other international taxes for the
Middle East, Africa and Asia, and the review of the latest updates in tax policies and best practices.”
G20 entrusted OECD with the task of finding a way to transfer benefits and develop possible solutions in order to promote investment, which is reflected by its commitment to enhance cooperation and understanding through regional dialogue and the proper application of the principles of international taxation and tax treaties.