DILI, 17 may 2022 (TATOLI)- The Government of Timor-Leste approves, the Proposal on Resolution, Convention between Portugal and Timor-Leste to avoid double tax revenue and prevent tax evasion.
“The convention will eliminate double tax revenue in various categories of income, received by residents of the two countries, as well as to prevent tax evasion,” said the President of the Council of Minister, Fidélis Magalhães, at the Government Palace, monday.
Magalhães also mentioned that the convention aims to contribute to the creation of a stable and favorable tax framework for the development of trade and investment between the two countries.
In addition, this agreement can remove tax barriers to the movement of capital, technology, and workers.
According to Magalhães, the convention also facilitates the exchange of tax information between the tax administrations of the two countries.
“The Convention must be approved by both countries, and Portugal has agreed to it in June 2012,”
Journalist: José Belarmino De Sá
Editor: Nelia Borges
