VATupdate

Highlights of comprehensive economic partnership agreement with India

The United Arab Emirates (UAE) and India Comprehensive Economic Partnership Agreement (CEPA), which aims to strengthen economic ties and boost trade and investment between the two countries, entered into effect on 1 May 2022. Through this CEPA, both the UAE and India are expected to achieve significant economic benefits in the form of liberalization of customs tariffs, simpler customs formalities and procedures, easier access to relevant markets and ease of movement of skilled labor to support the economic initiatives. The UAE Ministry of Economy has launched a web page that provides details of the CEPA.

Source BDO

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