Greek-Australian Agreement to Avoid Double Taxation Will Boost Bilateral Economic Cooperation

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The agreement between Greece and Australia to avoid double taxation is set to boost bilateral economic relations significantly. 

With this agreement, both sides can eliminate or reduce the double taxation of income derived from cross-border activities in their respective countries, paving the way for more significant investment opportunities.

Kostas Fragogiannis has underlined the great potential for strengthening cooperation with Australia and the great interest of the Greek government to take this opportunity.

Kostas Fragogiannis, the Deputy Minister of Foreign Affairs for Economic Diplomacy and Openness, said, “Strengthening and diversifying our commercial transactions is high on the agenda of the talks. The bilateral agreement under negotiation to avoid double taxation is oriented in this direction, the successful conclusion of which will certainly give new impetus to our bilateral economic relations.”

This move is expected to unlock further investment potential between Greece and Australia, as investors from both sides will be assured of a favourable business environment.

Kostas Fragogiannis also stated that “Greece’s success story, the country’s transformation over the last three and a half years, in the midst of successive global crises, clearly proves that within every crisis lies at least one opportunity.”

“I am satisfied and proud that we, as a government, were able to identify and take advantage of this opportunity for the benefit of our country, the Greeks living in Greece but also Greeks everywhere, who are valuable ambassadors of the country. You too can now be and feel proud of modern Greece and know that the Greek state wishes and seeks every possible strengthening of our ties.”

It also presents a clear benefit for businesses in both countries, as it reduces compliance costs that can often put off potential investors. The deal could encourage companies from either side to consider international expansion into each other’s markets.

Furthermore, the agreement should contribute positively to job creation by incentivising companies to expand their operations and increase employment opportunities.

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