Iraq and Oman Sign Agreement to Prevent Double Taxation and Enhance Trade Exchange.

  • Yesterday, 16:46
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Iraq and Oman Sign Agreement to Prevent Double Taxation and Enhance Trade Exchange.

Today, Friday, initial signing procedures for an agreement to prevent double taxation with Iraq were concluded in the Omani capital, Muscat. The agreement aims to remove tax obstacles for investors and enhance trade exchange, according to the Iraqi Ministry of Finance, which described the agreement as "an important step towards strengthening economic relations between the two countries.

The ministry explained in a statement today that the agreement aims to avoid double taxation on income and profits arising from economic and investment activities between the two countries, contributing to creating an attractive environment for capital and enhancing mutual financial and tax cooperation.

This step is part of Iraq's strategy to develop its foreign economic relations and encourage joint investments in various sectors, particularly in trade, energy, and infrastructure, according to the statement.

The ministry also mentioned that the agreement would stimulate Iraqi and Omani businessmen and companies to expand their investments and enhance their projects in both countries, fostering economic growth and achieving mutual interests.

The statement confirmed that the necessary legal and legislative procedures for the final ratification of the agreement by the relevant authorities in both countries are expected to be completed in the coming period.