Muscat: Today, the Sultanate of Oman and the Republic of Tanzania formalized an agreement in Muscat aimed at preventing double taxation. This agreement addresses income taxes and aims to combat tax evasion between the two nations.
The signing was conducted by Nasser Khamis Al Jashmi, Chairman of the Tax Authority, and Dr. Mwigulu Lameck Nchemba, the Tanzanian Minister of Finance and Planning.
This agreement offers legal safeguards for investors, ensuring they are not subjected to double taxation. It is anticipated that this accord will enhance economic and trade relations between Oman and Tanzania, while also paving the way for new opportunities in joint investments.
