14TH OCTOBER 2006

MALTA SIGNS DOUBLE TAXATION AGREEMENT WITH GREECE

Foreign Minister Michael Frendo and his Greek counterpart, Ms Dora Bakoyannis, Minister of Foreign Affairs of the Hellenic Republic, have signed an agreement on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The signing ceremony took place yesterday in Athens during the Informal Meeting of Foreign Ministers of the EU Mediterranean member states.

Commenting on this agreement after the signing ceremony, Foreign Minister Frendo said “This Agreement strengthens the framework for increased trade, investment and business opportunities between Malta and Greece. Malta has around 45 similar agreements with other countries on the avoidance of double taxation and prevention of fiscal evasion while another fifteen Double Taxation Agreements are currently being negotiated”.