The Sultanate of Oman and theGrand Duchy of Luxembourg today signed an agreement for the avoidance of double taxation. The agreement pertains to taxes on income and the prevention of tax evasion.

The agreement provides legal protection for investors, to spare them the imposition of double taxes. It also regulates the mechanisms of tax application in a manner that enhances investments and trade exchange between the two countries.

The agreement was signed by Sheikh Dr. Abdullah Salim Al Harthy, Ambassador of the Sultanate of Oman to the Grand Duchy of Luxembourg and Gilles Roth, Minister of Finance of Luxembourg.

Following the signing ceremony, the two sides held a session of talks. During the session, the Minister of Finance of Luxembourg affirmed his country’s readiness to facilitate the full utilization of the signed agreement in boosting bilateral economic cooperation.

Source: Oman News Agency