Mali: Agreement on avoidance of double taxation initialled with Germany

BELGRADE - Serbian First Deputy PM and Finance Minister Sinisa Mali attended on Friday the initialling of a Serbia-Germany agreement on avoidance of double taxation.

It was initialled by Serbia's Assistant Finance Minister Dragan Demirovic and Dagmar Kreissmann, who headed a delegation of the German Ministry of Finance.

The document will replace an agreement signed by the Socialist Federal Republic of Yugoslavia and the Federal Republic of Germany on January 1, 1989.

To date, Serbia has signed agreements on avoidance of double taxation with as many as 64 countries, the Serbian Ministry of Finance said.

It noted that the new agreement was "exceptionally important given the level of development of Serbia-Germany economic relations."

Germany is Serbia's number one goods trading partner and its fifth-largest foreign investor.

The initialling ceremony was also attended by German Ambassador to Belgrade Anke Konrad.