Lanka inks agreement on avoidance of DTA with Luxemburg
Sri Lanka’s Ambassador to Belgium, Luxemburg and the Head of
Mission to the European Union, P.M. Amza exchanging the
agreement
|
An Agreement on Avoidance of Double Taxation (DTA) between Sri Lanka
and Luxembourg was signed recently in Luxembourg. Sri Lanka’s Ambassador
to Belgium, Luxemburg and the Head of Mission to the European Union,
P.M. Amza, signed the Agreement on behalf of Sri Lanka while Luc Frieden,
Minister of Finance of Luxemburg signed it on behalf of the Government
of Luxembourg. The signing of the DTA took place following the
presentation of the Letters of Credence by Ambassador Amza, to Grand
Duchy of Luxemburg.
Speaking at the event, Finance Minister Luc Frienden stated that the
business community from both countries should make use of the benefits
generated by signing this Agreement.
Ambassador Amza reciprocating similar sentiments and recalling that
in 1982, the two countries agreed and signed an Investment Promotion and
Protection Agreement, said that the businesses in both countries could
use both these legal instruments on trade to enhance the flow of trade
and business activities.
Given that both Luxemburg and Sri Lanka are being designated as major
tourist destinations, investment projects in areas of tourism, has the
potential for mutual cooperation and knowledge sharing.
Similarly, it is possible for Sri Lanka to closely work on BPO
arrangements for financial services sector in Luxemburg. Luxemburg’s
financial and services sector in turn can benefit from the IT based
services and expertise of Sri Lanka. |