Journey.bg - Българският туристически портал
Русская версия Българска версия
Новини от бранша
Search


Subscribe

United Arab Emirates and Bulgaria sign double taxation avoidance agreement

Date: 29.06.2007

Finance Minister Plamen Oresharski and his counterpart from United Arab Emirates (UAE) Mohammed Bin Kharbash signed an intergovernmental agreement for income double taxation avoidance.

According to the agreement, income from property usage can be taxed in the country where the property is located.

Income from property ownership transfer will be taxed only in the country of the person who acquires the property, excluding real estate property.

Income from international, sea, river, air and car transport will be taxed only in the country where the headquarters of the transport company is located.

Labour-related profits will be taxed in the country of the employed person.

The agreement will simplify the relations between businesses in the two countries, Oresharski said.

Oresharski said that hoped that another agreement will follow to encourage investment.

Taxation system in UAE is extremely favourable, Oresharski said. Corporate duty in UAE is zero compared to Bulgaria's corporate duty of 10 per cent.

Total views: 3 rating:
traveller's forum
No opinions






We've tried to make the information on this web site as accurate as possible, but it is provided 'as is' and we accept no responsibility for any loss, injury or inconvenience sustained by anyone resulting from this information. You should verify critical information (like visas, health and safety, customs and transportation) with the relevant authorities before you travel.


Journey Bulgaria | News | United Arab Emirates and Bulgaria sign double taxation avoidance agreement
© 2000-2017 Journey.bg. All rights reserved.