Maldives and Singapore on Thursday ended the first round of discussions for a Double Tax Avoidance Agreement (DTAA) between the two countries.
The discussions between the tax authorities of both countries began on July 9. Deputy Commissioner General of Taxation, Hassan Zareer led the Maldives Inland Revenue Authority (MIRA) delegation.
Under the agreement, double taxation of revenue generated from inter-country business transaction can be eliminated, and will contribute to exchange of tax related knowledge between the two nations.
Maldives has similar agreements with several countries including India and the United Arab Emirates (UAE).
