Croatia and Portugal Sign Convention on Avoiding Double Taxation

Croatia and Portugal have penned a Convention on Avoiding Double Taxation and Preventing Tax Evasion. Croatia’s Deputy Minister Joško Klisović and Portuguese Secretary of State for European Affairs Bruno Maçães signed the agreement between the two countries in Dubrovnik on Friday.

The Convention regulates the rights of signatory states to impose tax on certain types of transactions or, more precisely, avoid double taxation in that basis and determines the manner of data exchange between the two countries’ tax administrations, as well as conditions for a more favourable exchange of goods, services, labour and capital in terms of more favourable tax rates. The Convention facilitates mutual economic activities, offers greater security to companies and makes entrepreneurs’ work in both countries easier, reported the Ministry of Foreign Affairs.

Klisović and Maçães also discussed stronger cooperation between Croatia and Portugal in the future, notably in the tourism, which is an important sector for both nations. (pic: MVEP)