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Costa Rica, UAE To Prevent Double Taxation

Costa Rica and the United Arab Emirates successfully negotiated an agreement to prevent double taxation between the two countries.

Image for illustrative purposes.

Talks are also being held to finalize an agreement for the protection and promotion of investment among the two countries.

“The agreement, concluded between Costa Rica and a nation member of the Gulf Cooperation Council, is an indicative of Costa Rica’s commitment to strengthen its strategic alliance with the United Arab Emirates, promoting investment, trade and the development and the enhancement of economic relations,” a statement from the embassy of Costa Rica in the UAE said on Friday.

“The Central American Country sees the United Arab Emirates as its top partner, and as its hub in the region.”

Last January, Costa Rican President Luis Guillermo Solis visited the UAE on the invitation of Shaikh Mohammad Bin Zayed Al Nayhan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the UAE, to address the Abu Dhabi Sustainability week.

Earlier this year, in January, the UAE made a donation of US$10 million dollars to cover the reconstruction of aqueducts that became unusable after Hurricane Otto, directly deposited to the National Emergency Fund, administered by the National Emergency Commission (CNE).