Sri Lanka signs DTA agreement with Luxemburg

05 Feb 2013 - {{hitsCtrl.values.hits}}

An Agreement on Avoidance of Double Taxation (DTA) between Sri Lanka and Luxembourg was signed on January 31 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 the Government 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 on January 30.

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.

Economy

Sri Lanka signs DTA agreement with Luxemburg

Most Popular Articles

Third review approved by IMF, SL to get next US$ 333 million tranche

Niloufer Esufally-Anverally Makes a Stylish Comeback with the Launch of NLFR

Global Entrepreneurship Week 2024 kicks off across all 25 districts

LATES'T NEWS

Only invigilators allowed to use mobile phones during A/L exams this time

Mahinda Deshapriya’s house in Ambalangoda robbed

Low-pressure area over Bay of Bengal intensifying into depression tomorrow

Local Government polls to be held early next year: Vijitha

Another student injured in Badulla KDU bus accident dies