Double taxation accord

Malta has signed a double taxation agreement with Montenegro.

The agreement was signed by Foreign Affairs Minister Tonio Borg and his Montenegran counterpart, Mila Rocen, in Marseilles during a meeting of Foreign Ministers.

Dr Borg said the agreement was a step forward to explore new avenues of economic benefits and contribute towards the expansion of commercial activities between both countries. The agreement provided an "excellent basis" for establishing tax-efficient structures and relieving double taxation on cross-border transactions, he added.