Ethiopia, N. Korea sign agreement to avoid double taxation

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Addis Ababa, December 6 (WIC) - Ethiopia and North Korea here on Wednesday signed agreement to avoid double taxation. The agreement will enable the two sides to avoid double taxation and prevent fiscal evasion on income taxes between the two countries.

The agreement creates favorable conditions for business persons and organizations regarding to capital flows and free movement of individuals, among others.

The agreement will provide vibrant investment opportunity and overall trade enhancement and economic development, which benefit the people and governments of both countries.

Finance and Economic Development State Minister, Ahmed Shide and North Korean Ambassador to Ethiopia, Kim Hyok Chol signed the agreements. ( ENA)