Muscat: The Sultante of Oman and the Arab Republic of Egypt on Monday signed an agreement and MoU on the avoidance of double taxation and prevention of income and capital tax evasion.
While the agreement is related to the elimination of double taxation with regard to taxes on income and the prevention and avoidance of tax evasion, the MoU is in areas related to financial policies and developments.
It was signed on behalf of the government of the Sultanate of Oman by Sultan bin Salem al Habsi, Minister of Finance, and on behalf of the government of the Arab Republic of Egypt by Dr. Mohammed Muait, Minister of Finance.
Meanwhile, the Omani-Egyptian Business Forum held a meeting in Cairo to explore investment opportunities in the Sultanate of Oman and to boost the economic partnership between the two countries,
The Minister of Finance speaking at the forum will enhance the development of joint economic activities between the two countries in accordance with the aspirations and directives of their leaders.
The minister affirmed the desire to build a solid partnership in the strategic economic sectors of interest to the two countries, and the clear endeavor to enhance investment efforts and trade exchange in a way that reflects the comparative advantage and competitive advantage between them to achieve the desired economic integration.
The Egyptian vision is in line with the Omani ambition, which is embodied in the desire of the Sultanate of Oman to achieve well-being and prosperity, and prosperity.
The government of the Sultanate of Oman, thanks to the royal directives, has taken many measures to facilitate doing business in the Sultanate of Oman and improve the business environment.
The Minister of Commerce, Industry, and Investment Promotion gave during the forum an overview of Oman's Vision 2040 and the incentives offered by the Sultanate of Oman to investors.