Muscat: In a significant development, the Sultanate of Oman and the Republic of Ireland have officially inked a bilateral agreement in Muscat. This agreement focuses on the avoidance of double taxation and aims to address taxes on income as well as prevent tax evasion between the two nations.
The primary objective of this agreement is to provide legal protection to investors, ensuring that they are not burdened with double taxation. Additionally, it establishes a framework for the application of taxes in a manner that promotes and strengthens investments and trade relations between Oman and Ireland.
The signing ceremony was attended by Nasser Khamis Al Jashmi, Chairman of the Tax Authority, and Gerard Cunningham, the esteemed Ambassador of the Republic of Ireland to the Sultanate of Oman. This agreement marks a significant step forward in fostering economic cooperation and facilitating a favorable business environment for both countries.
