Oman and Lebanon on Thursday signed an agreement on avoidance of double taxation and income tax evasion, reported Oman Observer Friday.
Ahmed bin Abdulnabi Macki, Minister of National Economy and Vice-President of the Financial Affairs and Energy Resources Council, and Fuad al Sunioorah, Lebanon's Finance Minister, signed for their respective governments.
Apart from defining the ground rules for abolishing double taxation, the agreement also enjoins both sides to favorably handle all cases of taxation involving shared profit and interest on debt. Both sides have also agreed not to subject the other's airlines to taxation, said the report, adding that the agreement paves the way for the elimination of hurdles in international investment inflows into either country – Albawaba.co,
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