LOC20:30
17:30 GMT
(With photo)
BERLIN, Feb 2 (KUNA) -- Latvia and Kuwait initialed an agreement to prevent
double taxation, said the Kuwaiti Embassy in Berlin on Monday.
The embassy said in a statement that the deal was signed in Riga, Latvia,
after three days of negotiations.
It added that Kuwaiti and Latvian officials, meeting within a "positive
atmosphere," expressed keenness to develop bilateral relations.
The deal would lead to the decrease of taxation on profits made by joint
governmental transactions from 10 to five percent, said the statement, adding
that the same is applied on loans' interests and income tax.
Official in charge of International transactions at the Kuwaiti Finance
Ministry Abdulaziz Al-Sallal said on his part that both Kuwait and Latvia were
looking forward to encourage bilateral investments. (end)
sh.gta
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