Moldova concludes accord on double tax avoidance and curbing fiscal evasion with Ireland

Moldova and Ireland have signed Convention on double tax avoidance and curbing fiscal evasion. The document is though to coordinate actions between the tax system of the two countries, will create favorable conditions for external economic activities and will strengthen the trust among trade partners, said Viorel Dandara, a deputy minister for finances, Info-Prim Neo reports. John Morah, the Irish ambassador to Moldova, has said signing the convention places the Moldo-Irish economic relations into a new dimension. The Irish companies are always looking for new investment opportunities. Moldova, as a developing country, is among the areas offering such opportunities, the diplomat said. The convention will remove a row of barriers related to levying dividends, interests, other aspects. The document provides for the same treatment for both residing and non-resident companies, without any discrimination, John Morah said. In 2008, Moldova's trade with Ireland stood at $5.5 million, of which the Moldovan exports to Ireland are 5.2 million. There are 19 Moldo-Irish joint companies, the equities of which amount to $2.2 million. Moldova has signed agreements on double tax avoidance and curbing fiscal evasion with 40 countries, 6 agreements being ratified by the Parliament, as other 8 are considered.