{"id":11663,"date":"2021-05-31T15:10:06","date_gmt":"2021-05-31T15:10:06","guid":{"rendered":"https:\/\/dailyrapidnews.com\/eng\/?p=11663"},"modified":"2021-05-31T15:10:06","modified_gmt":"2021-05-31T15:10:06","slug":"israel-uae-sign-tax-treaty-to-boost-economic-cooperation","status":"publish","type":"post","link":"https:\/\/dailyrapidnews.com\/eng\/2021\/05\/31\/israel-uae-sign-tax-treaty-to-boost-economic-cooperation\/","title":{"rendered":"Israel, UAE sign tax treaty to boost economic cooperation"},"content":{"rendered":"<div class=\"template__main  clearfix    modifier--open        px-1 w-full sm:w-2\/3 mx-auto\">\n<div class=\"story__content  overflow-hidden    text-4  sm:text-4.5        pt-1  mt-1\" dir=\"auto\">\n<p>Israel and the United Arab Emirates signed a tax treaty on Monday, Israel&#8217;s Finance Ministry said, describing the move as a spur to business development between the countries after they\u00a0normalised relations\u00a0last year.<\/p>\n<p>The UAE finance ministry said in October that it had reached a preliminary agreement with Israel on avoiding double taxation.<\/p>\n<p>The tax convention, once ratified by ministers and parliament this year, will be Israel&#8217;s 59th and go into effect on Jan 1, 2022.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-11665\" src=\"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/05\/Israel-UAE-sign-tax-treaty-to-boost-economic-cooperation-rapidnews.png\" alt=\"Israel-UAE-sign-tax-treaty-to-boost-economic-cooperation-rapidnews\" width=\"800\" height=\"480\" srcset=\"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/05\/Israel-UAE-sign-tax-treaty-to-boost-economic-cooperation-rapidnews.png 800w, https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/05\/Israel-UAE-sign-tax-treaty-to-boost-economic-cooperation-rapidnews-300x180.png 300w, https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/05\/Israel-UAE-sign-tax-treaty-to-boost-economic-cooperation-rapidnews-768x461.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p>It is the first tax treaty reached in the wake of Israel&#8217;s normalising relations with the UAE and Bahrain last year. In parallel, Israel has moved to improve ties with Morocco and Sudan.<\/p>\n<p>The treaty is based primarily on the OECD model, Israeli Finance Minister Israel Katz said in a statement, adding that it \u201cprovides certainty and favourable conditions for business activity and will strengthen economic ties\u201d with the UAE.<\/p>\n<p>Under the agreement, tax deductions, dividends and royalties are capped.<\/p>\n<p>Israeli Foreign Minister Gabi Ashkenazi said the treaty will enable significant promotion of investment and trade that will help both countries&#8217; economies.<\/p>\n<p>Since a normalisation deal was signed last September, Israeli and Emirati banks and other companies have\u00a0signed cooperation deals, while also establishing direct flights.<\/p>\n<p>The normalisation has, however, created tensions with other Muslim states, especially in the backdrop of the recent\u00a0Israeli violence in Palestine.<\/p>\n<p>In a meeting of the 57-nation Organisation of Islamic Cooperation (OIC) earlier this month, diplomats criticised each other at different points over ties to Israel.<\/p>\n<p>\u201cThe massacre of Palestinian children today follows the purported normalisation,\u201d Iranian Foreign Minister Mohammad Javad Zarif said in the meeting. \u201cThis criminal and genocidal regime has once again proven that friendly gestures only aggravate its atrocities.\u201d<\/p>\n<p>Turkish Foreign Minister Mevlut Cavusoglu also joined Zarif in criticising the normalisation, though Israel maintains diplomatic ties with Ankara.<\/p>\n<p>\u201cThere are a few who have lost their moral compass and voiced support for Israel,\u201d he said. \u201cIf there are half-hearted statements within our own family, how could we criticise others? Who will take our words seriously?\u201d<\/p>\n<\/div>\n<\/div>\n<div class=\"template__footer  clearfix    modifier--open        px-1  \">\n<div class=\"w-full sm:w-2\/3 mx-auto border-t border-gray-200 my-4\">\n<div class=\"flex flex-col sm:flex-row\">\n<div class=\"w-full  sm:w-1\/2\">\n<div class=\"mb-0  sm:mb-4\">\n<div class=\"flex\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Israel and the United Arab Emirates signed a tax treaty on Monday, Israel&#8217;s Finance Ministry<\/p>\n","protected":false},"author":1,"featured_media":11664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-11663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - 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White House Press Secretary Karoline Leavitt told reporters on Monday that Trump will hold a multilateral meeting with\u2026","rel":"","context":"In &quot;international&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2025\/09\/a-46.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/11663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/comments?post=11663"}],"version-history":[{"count":1,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/11663\/revisions"}],"predecessor-version":[{"id":11666,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/11663\/revisions\/11666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media\/11664"}],"wp:attachment":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media?parent=11663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/categories?post=11663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/tags?post=11663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}