Ethiopia, Switzerland Sign Double Taxation Avoidance Agreement

Addis Ababa, July 29/2021 (ENA ) Ethiopia and Switzerland inked today a double taxation avoidance agreement.

The agreement is aimed at encouraging investors from Switzerland to allot finance on development works and improving the participation of Ethiopian business people in Swiss market, according to Finance Minister Ahmed Shide.

Moreover, the double taxation avoidance agreement will encourage foreign investment and prevent tax evasion and contribute significantly to the country's development and growth.

The agreement was reached after three-rounds of talk between the governments of the two countries, it was learned.

The agreement was signed by Finance Minister Ahmed Shide and Tamara Mona, Ambassador of Switzerland to Ethiopia.

After the end of the signing ceremony, The two sides also held discussion about ways of realizing the agreement and strengthening ties between Ethiopia and Switzerland.