Oman, Tanzania sign agreement for avoidance of double taxation, tax evasion

Muscat: The Sultanate of Oman and the Republic of Tanzania today signed in Muscat an agreement for the avoidance of double taxation. The agreement pertains to taxes on income and the prevention of tax evasion between the two countries.

The agreement was signed by Nasser Khamis Al Jashmi, Chairman of the Tax Authority and Dr.Mwigulu Lameck Nchemba, Tanzanian Minister of Finance and Planning.

The agreement provides legal protection for investors, to spare them the imposition of double taxes. It is expected that the agreement would promote the economic and trade relations between Oman and Tanzania, in addition to opening new horizons for joint investment.