The Governments of Finland and the United Arab Emirates have signed an agreement on the exchange of information for tax purposes.
The agreement was signed on March 27 by Younis Haji Al Khoori, Undersecretary of UAE Ministry of Finance (MoF), and Riitta Swan, the Finnish Ambassador to the UAE.
Al Khoori said that the agreement demonstrates the country’s commitment to international standards on tax transparency. “The Ministry of Finance is committed to implementing the highest standards of economic transparency and exchange of information for tax purposes whereby these agreements provide a legal framework for tax authorities to prevent any sovereignty violations of other countries,” he said.
The tax information exchange agreement adds to the double tax avoidance and investment protection agreements signed by Finland and the UAE in 1996.
According to the UAE MoF, bilateral trade between the two countries stood at AED342m (USD93m) in 2015.
IMC Group