China and Rwanda have signed the Agreement on the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and its affiliated Protocol.
The agreement was signed here Tuesday by Rao Hongwei, Chinese Ambassador to Rwanda, and Uzziel Ndagijimana, Rwanda’s Minister of Finance and Economic Planning.
“The cooperation on tax matters between the two countries is of great significance to the healthy and sustainable development of bilateral economic and trade relations. The signing of the Agreement and its affiliated protocol will effectively reduce the tax burden of taxpayers investing in either country and further facilitate bilateral economic and trade cooperation and personnel exchange,” Rao said.
“It will also make a good beginning of the two countries’ future cooperation in different fields, including improving the capability of tax administration, strengthening the prevention system of tax evasion and avoidance, safeguarding bilateral tax interests and the international tax order,” Rao said.
The ambassador said over the past 50 years since the establishment of diplomatic relations, the bilateral ties of the two countries have achieved fast expansion in the economic and trade field and China has become Rwanda’s largest project contractor and one of the most important trading partners.
Rao added that China is willing to take the implementation of the outcomes of the 8th Ministerial Conference of the Forum on China-Africa Cooperation held in Senegal in late November as an opportunity to deepen practical cooperation with Rwanda in all areas under the Belt and Road Initiative, and help accelerate the economic recovery of Rwanda, so as to create more benefits for both countries and peoples.
Ndagijimana said the signing of the agreement will further consolidate Rwanda’s position as an ideal investment destination for Chinese enterprises.
The minister said there will be more and more Chinese investment in Rwanda, and the country is willing to join hands and work together with China to further deepen practical cooperation on tax matters and promote the development of bilateral economic and trade relations.
Before the signing ceremony, both sides also exchanged views on issues of bilateral cooperation projects and key areas for future cooperation.
Xinhuanews
