The United Arab Emirates President has reportedly issued the decree ratifying the pending income and capital tax treaty with Mauritania. The treaty, signed 21 October 2015, is the first of its kind between the two countries.
The treaty covers Mauritanian tax on industrial and commercial profits, tax on income from movable properties, tax on income from immovable properties, tax on wages, salaries and pensions, general income tax, tax on agricultural income, tax on non-commercial profits, and royalties. It covers U.A.E. income tax and corporation tax.
The following capital gains derived by a resident of one Contracting State may be taxed by the other State:
Gains from the alienation of other property by a resident of a Contracting State may only be taxed by that State.
Both countries apply the credit method for the elimination of double taxation.
The treaty will enter into force once the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force.
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