Benin and the Kingdom of Morocco exchanged, Monday in Cotonou at the headquarters of the Ministry of Foreign Affairs and Cooperation of Benin, the instruments of ratification relating to the Convention for the avoidance of double taxation, the prevention of tax evasion on income tax and to establish the rules of reciprocal assistance, signed in Marrakech on March 25, 2019.
A press release from the Moroccan Embassy in Benin indicates that the Beninese Minister of Foreign Affairs and Cooperation, Aurélien Agbenonci, stressed that this agreement has the essential objective of promoting economic relations between the two countries and improving the tax cooperation.
The implementation of the said convention will encourage investments between the two countries and allow existing and new businesses to flourish in a tax-friendly environment for investors, in particular by giving them the opportunity to benefit from the returns on investment, added the head of Beninese diplomacy.
And to note that the entry into force of this convention constitutes a further step in the strengthening of cooperation relations between Morocco and Benin and gives concrete content to the economic diplomacy that the leaders of the two countries call on to promote as an example. of south-south cooperation.
The Beninese minister also took this opportunity to salute the personal commitment of the two leaders who wish to revitalize and strengthen cooperation relations between Morocco and Benin.
For his part, Rachid Rguibi, Ambassador of Morocco to Benin and Togo, pointed out that the excellent relations of friendship and brotherhood between the two countries.
The exchange of instruments of ratification will encourage investments in the two countries, and will make it possible to complete the legal arsenal in favor of the many economic operators and their service providers and to strengthen the attractiveness of investments in Morocco and Benin, a- he said.
The instrument exchange ceremony took place in the presence of the President of the Council of Private Investors of Benin, the Vice-President of the National Council of Employers (CNP), as well as the Managing Directors of Moov Africa and Banque Atlantique. .
