Egypt, Oman Agree to Eliminate Double Taxation this Month

The Egyptian Minister of Finance Mohamed Maait, agreed with his counterpart in the Sultanate of Oman, Sultan bin Salem Al Habsi, to sign an agreement to remove and prevent double taxation, this month in Cairo. 

This agreement is expected to strengthening economic relations and tax cooperation between the two countries.

This came during their meeting today, on the sidelines of their participation in the annual meetings of the Islamic Development Bank Group in the Kingdom of Saudi Arabia, under the title: “Establishing partnerships to prevent crises.”

The two sides also agreed on the need to deepen bilateral cooperation in financial policies and social protection, in order to achieve economic and development goals and limit the repercussions of external economic shocks.

Maait stressed that Egypt is working to contain the repercussions of global economic challenges, and focusing on opening new horizons for local and foreign investments, in a way that helps in maximizing the country’s productive and export capabilities.

He called on Omani investors and companies wishing to expand their investments in Egypt, to take advantage of the measures taken by the Egyptian government that stimulate production and export in various fields, including the "golden license", the "state ownership policy document" and "government public offerings".