Bahrain and Mexico have signed a convention on the avoidance of double taxation and prevention of fiscal evasion, in Washington.

It was signed by Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa and Mexican Minister of Finance and Public Credit Ernesto Cordero Arroyo. Central Bank of Bahrain Governor Rasheed Al Maraj attended.

It eliminates double taxation and allows for the exchange of tax information in accordance with Organisation for Economic Co-operation and Development standard. The deal applies to taxes on income, irrespective of the manner in which they are levied.

Shaikh Ahmed and Arroyo praised the convention and its role in promoting good governance in tax matters and fostering investment.-TradeArabia News Service