Oman, Sri Lanka sign agreement on avoidance of double taxation

Oman and Sri Lanka have signed an agreement on Avoidance of Double Taxation and Prevention of Fiscal Evasion.

The agreement was signed by the leaders of the respective delegations of the two countries during the second meeting of the Sri Lanka-Oman bilateral consultations on August 15 in Colombo.

According to the Sri Lankan news portal, ColomboPage, the Sri Lankan delegation was led by Prasad Kariyawasam, secretary to the Ministry of Foreign Affairs, Sri Lanka, and Omani delegation was headed by H E Mahmood Awad al Hassan, Undersecretary for Diplomacy and Chief Master's Department in the Ministry of Foreign Affairs.

The two sides agreed to work towards the establishment of business, trade and shipping links between Oman, as a gateway to the Middle East, and Sri Lanka, as a hub of the Indian Ocean.

A wide range of matters for collaboration in the fields of trade, tourism, immigration, training of manpower, defence, agriculture, higher education and culture were reviewed and discussed. Other sectors such as fisheries, sports, oil and gas were identified as new areas for possible future cooperation. It was also agreed to assist the establishment of a Sri Lanka-Oman Business Council between the National Chamber of Commerce of Sri Lanka and the Oman Chamber of Commerce and Industry.

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