Maldives and Malaysia is to sign a double tax avoidance agreement to prevent double taxation of the same income from business transactions, President Ibrahim Mohamed Solih announced.
The President made the announcement during a meeting with the newly appointed Malaysian Ambassador to Maldives, Badli Hisham Bin Adam, after the presentation of his credentials to the President.
The ceremony was held at the Presidential Palace this afternoon.
The President said that this year marks the 55th anniversary of the close friendship between Maldives and Malaysia. The President also highlighted the close relationship between the people of the two countries.
During the meeting, the President and the new Malaysian Ambassador discussed strengthening economic relations between the two countries and the Double Tax Avoidance Agreement being prepared to be signed between the two countries.
The agreement will prevent double taxation of the same income from business transactions between Maldives and Malaysia. It will also facilitate the exchange of tax information between the two countries. The agreement will also provide tax relief to businesses between the two countries.
During the meeting, the President noted that the agreement between the two countries on the recognition of road vehicle driving licenses has greatly facilitated the travel of Maldivians living in Malaysia.
During the meeting, the President thanked the Government of Malaysia for its assistance in developing the human resources required for Maldives administration through the Malaysian Technical Corporation.
The President said Maldives is interested in welcoming more tourists from Malaysia and is working to increase flights between the two countries.
The President and the new Malaysian Ambassador concluded the meeting by expressing assurances that the close friendship between the two countries will continue to strengthen in the future.
During the meeting, the President congratulated the new Ambassador of Malaysia on his assumption of office. The President also extended his congratulations and best wishes to Prime Minister Anwar Ibrahim, the Government and the people of Malaysia.
Maldives established political relations with Malaysia in 1968.
The President made the announcement during a meeting with the newly appointed Malaysian Ambassador to Maldives, Badli Hisham Bin Adam, after the presentation of his credentials to the President.
The ceremony was held at the Presidential Palace this afternoon.
The President said that this year marks the 55th anniversary of the close friendship between Maldives and Malaysia. The President also highlighted the close relationship between the people of the two countries.
During the meeting, the President and the new Malaysian Ambassador discussed strengthening economic relations between the two countries and the Double Tax Avoidance Agreement being prepared to be signed between the two countries.
The agreement will prevent double taxation of the same income from business transactions between Maldives and Malaysia. It will also facilitate the exchange of tax information between the two countries. The agreement will also provide tax relief to businesses between the two countries.
During the meeting, the President noted that the agreement between the two countries on the recognition of road vehicle driving licenses has greatly facilitated the travel of Maldivians living in Malaysia.
During the meeting, the President thanked the Government of Malaysia for its assistance in developing the human resources required for Maldives administration through the Malaysian Technical Corporation.
The President said Maldives is interested in welcoming more tourists from Malaysia and is working to increase flights between the two countries.
The President and the new Malaysian Ambassador concluded the meeting by expressing assurances that the close friendship between the two countries will continue to strengthen in the future.
During the meeting, the President congratulated the new Ambassador of Malaysia on his assumption of office. The President also extended his congratulations and best wishes to Prime Minister Anwar Ibrahim, the Government and the people of Malaysia.
Maldives established political relations with Malaysia in 1968.
