Moldova and Germany have started negotiations on the signing of the Convention on Avoidance of Double Taxation.
The Finance Ministry said that the first round of talks on the signing of this intergovernmental convention between Moldova and Germany started in Chisinau and will last until February 23. The ministry stressed that this stage marks the beginning of a complex strategic process, in which the delegations of both sides cooperate in order to identify solutions that will balance the economic and tax interests of the countries and will contribute to the removal of tax obstacles between the two states. The Moldovan-German talks were opened by the head of the Moldovan delegation, State Secretary of the Finance Ministry Olga Golban. She said that this event is an opportunity to discuss the most important aspects of the Double Taxation Convention, such as the definition of tax concepts, the creation of dispute settlement mechanisms and the harmonization with the international tax standards. At the same time, Dagmar Crasemann, head of the German delegation, representative of the Federal Ministry of Finance, emphasized the importance of this process, which aims to promote international cooperation and facilitate a more efficient approach to taxation between countries. "The Double Taxation Convention is an important tool for removing tax barriers and creating a favorable environment for investment and international trade," she said. The two delegations expressed confidence that through an open dialog and respecting common commitments, they will manage to reach constructive and efficient agreements for the two states. Currently, Moldova applies 51 double taxation avoidance agreements/conventions. As InfoMarket reported earlier, Moldova and Germany currently apply the Agreement on Avoidance of Double Taxation of Income and Property, signed between Germany and the USSR on November 24, 1981 in Bonn, and its protocol. It is planned that the new double taxation convention will take into account the changes of the last years and the current economic realities. The signing of this convention will contribute to the development of economic relations between Moldova and Germany, the elimination of double taxation of individuals and legal entities, as well as the attraction of foreign investments. // 20.02.2024 - InfoMarket
