The first round of negotiations on the Agreement on the avoidance of double taxation between Moldova and the Federal Republic of Germany started and will last until February 23, IPN reports, quoting a press release.

The Moldovan-German negotiations were opened by the head of the Moldovan delegation Olga Golban, State Secretary of the Ministry of Finance. “This event enables to discuss and negotiate crucial aspects of the Agreement on the avoidance of double taxation, such as defining of fiscal concepts, agreeing of dispute resolution mechanisms and aligning with international taxation standards,” stated Olga Golban.

The head of the German delegation Dagmar Crasemann, who represents the Federal Ministry of Finance, stressed the importance of this process that is aimed at promoting international cooperation and facilitating a more effective approach to taxation between countries. “The Agreement on the avoidance of double taxation is an essential tool to remove tax barriers and create an environment favorable to investment and international trade,” said the official.

The Republic of Moldova currently applies 51 Agreements and Conventions on the avoidance of double taxation.