Moldova and Portugal sign Convention on avoiding double taxation and preventing fiscal evasion

From June 16 to 20, in Lisbon, officials representing Moldova and Portugal negotiated and sealed the draft of the Convention on avoiding double taxation and preventing fiscal evasion in paying the income tax, Info-Prim Neo has learnt from the Finance Ministry. The Convention pursues that the two countries create fiscal systems, which would not allow for double-taxing natural and legal entities, would eliminate the fiscal discrimination in any form, and would settle tax litigations. In negotiating the Convention, the sides wanted to create a favorable legal frame favoring mutual investments in Moldova and Portugal and to assist residents to invest abroad. The Convention is to be ratified by the Parliaments of the two countries. On April 25, the Moldovan Parliament ratified a similar convention with Cyprus.