Abu Dhabi: The UAE and Greece on Monday signed two agreements on avoiding double taxation on income and air transport in the presence of Dr Anwar Mohammad Gargash, Minister of State for Foreign Affairs.

The agreement on avoiding double taxation aims at boosting bilateral economic relations and achieving economic balance.

It also provides a raft of tax breaks for UAE government and private investment in Greece. Income generated by real estate and stocks will be free of tax.

The agreements also provide up to 95 per cent tax exemption on benefits of shares and full exemption of air transport operations.

The agreement for air traffic services will also allow UAE and Greek air carriers to operate air transport services between the two countries.