Double Taxation Relief (Taxes on Income) (United Arab Emirates) Order, 2009 was signed on the 30th of March 2009. This is considered an important Double Taxation Agreement in light of increased future investment by Tecom in Smart City Malta. Smart City Malta is expected to be one of Malta’s largest foreign direct investment projects and is expected to generate over 5,000 jobs as well as attract some of the largest corporations dealing with technology and IT development.

An interesting provision is found in Article 27 dealing with the taxation of Hydrocarbons. The convention specifically states that the provisions of the Treaty does not affect the right of either Contracting State to tax income and profits derived from hydrocarbons and its associated activities situated in the territory of the respective Contracting State.