The government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam and the government of the Sultanate of Oman, yesterday signed the Agreement on the Avoidance of Double Taxation in Muscat, Sultanate of Oman.
Signing on behalf of the government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam was Pehin Dato Seri Setia Lim Jock Seng, Second Minister of Foreign Affairs and Trade, while Mr Ahmed bin Abdul Nabi Macki, Minister of National Economic, signed on behalf of the government of the Sultanate of Oman.
Also present to witness the signing was Dato Setia Awang Haji Adam bin Haji Ahmad, Ambassador of Brunei Darussalam to the Sultanate of Oman and officials from the Ministry of Foreign Affairs and Trade, Brunei Darussalam, a press release from the Ministry of Foreign Affairs and Trade said.
This agreement serves to lessen the burden of tax on companies when operating in both countries and to encourage investments and trade between the two signatory countries.
The signing of the agreement marks another milestone in the development of bilateral relations between both countries which forged diplomatic relations on March 24, 1984.
The two countries have also signed the Agreement on the Promotion and Reciprocal Protection of Foreign Investment in 1998.
- Borneo Bulletin
(26th Feb 2008)