Ethiopia and South Korea signed an agreement to avoid double taxation on the 5th of December in Addis Ababa.  The agreement is planned to promote investment opportunity and enhance economic development it was said.

The agreement is intended to help the two countries avoid double taxation and prevent fiscal evasion on income taxes it was said at the signing ceremony. The agreement is also expected to create favorable conditions in relation to capital flow and the free movement of individuals for business as well as other benefits.

The agreement was signed by Ahmed Shide, Finance and Economic Development State Minister and Kim Hyok Chol, South Korean Ambassador to Ethiopia, signed the agreement.

Source: Ethiopian News Agency